Slovenia's GDP remains shrinking

Slovenia's gross domestic product (GDP) is expected to shrink continuously by 1.9 percent in 2013, a senior official of a macroeconomic think-thank of the government said on Friday. 

The forecast, the second consecutive contraction for the country's economy, was announced by Bostjan Vasle,Mobile crushing machine director of the Institute for Macroeconomic Analysis and Development (IMAD). 

The worsening economic situation will further deteriorate the country's labour market. 

The number of unemployed could reach 123,500, up from 110,000 in 2012, and even over 124,000 in 2014. The registered unemployment rate in 2013 could thus reach 13.4 percent, according to Vasle. 

IMAD expects a slight increase in exports (1.2 percent) in 2013, but the growth of Slovenian export will continue to lag behind rival exporters from eastern Europe such as the Czech Republic,Clawfoot tubsSUV Accessories wholesalers Slovakia, Poland and Hungary. 

Vasle attributed such backwardness to Slovenia's poor technological structure in exports and strong orientation to European markets. 

Similar to IMAD, the Chamber of Commerce and Industry of Slovenia (CCIS), which provides a full range of professional services to enterprises operating in the country, has also predicted a 1.Antique faucets9-percent contraction of Slovenia's GDP in 2013. 

"We continue to face poor business expectations, limited access to financing, as well as very low investment activity and an ever lower private consumption. At the same time there are no long-term strategies or real solutions to exit the crisis," CCIS said in a press release.tyres and wheels service & repair equipment 

CCIS believes that consumer purchasing power will continue to drop by 3.2 percent in 2013 and 1.7 percent in 2014. Exports are expected to increase by 2.6 percent in 2013 and by 4.2 percent the next year.