Slovenia Remains in Recession

Businessn.a. ♦ Published: July 12, 2012; 16:56 ♦ (Vindobona)

According to estimations, the recession in Slovenia will sharpen this year. A turnaround is expected in 2013. The banking sector is an enormous burden for the Souteastern European country.

Slovenia Remains in Recession / Picture: ©

For Slovenia, the boom phase is over. With EU accession in 2004 and adoption of the euro in 2007, Slovenia’s economic development was extraordinary in the period 2000-2007, with average real GDP growth of 4.36% per year. Austrian RCB (Raiffeisen Centrobank) says. The economy saw a surge in construction before the crisis, and the banking sector (held in large part by the government)…