Banka Slovenije expects 6-16% GDP contraction in 2020

Banka Slovenije expects 6-16% GDP contraction in 2020 Photo: Matic Štojs Lomovšek Banka Slovenije expects 6-16% GDP contraction in 2020 Photo: Matic Štojs Lomovšek

Slovenia's central bank Banka Slovenije said that the the impact of the coronavirus pandemic on the Slovenian economy will likely be higher than in the last global financial crisis.

It expects GDP to contract by between 6% and 16%. Publishing a preliminary analysis that does not factor in emerging fiscal and monetary policy measures, Banka Slovenije outlined three possible scenarios. It stressed the impact would be very large in any case, while its gravity would depend on how long containment measures remained in place and on the speed of the recovery after they are lifted.

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