Slovenian Economy to Shrink “Only” 2 Percent

Politics ♦ Published: January 22, 2014; 10:20 ♦ (Vindobona)

According to the ERBD’s (European Bank for Reconstruction and Development) revision, Slovenia’s economy will shrink “only” 2 percent up from a 2.5 contraction of GDP which was forecast in November.

Slovenian Economy to Shrink “Only” 2 Percent / Picture: ©

Slovenia will be the only country in recession this year in this region, according to the report issued on Tuesday by the ERBD. In regard to the recent recapitalization measures of the country’s state-controlled banks, the ERBD pointed out that "adjustments in the banking sector will likely continue to weigh on private sector". The key reason for the recession to continue this year is…