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Slovenia upgrades economic growth forecast to 2.2 pct for 2016

Xinhua, December 14, 2016 Adjust font size:

Slovenia has upgraded 2016 GDP growth forecast by 0.3 percentage point to 2.2 percent, according to the central bank's forecast released on Wednesday.

The growth projections for 2017 and 2018, bot at 2.5 percent, remain unchanged, the Slovenian Press Agency (STA) reported.

The upgrade was based on robust foreign demand for Slovenian goods as well as strong domestic consumption, which will be "the key driver of growth in the coming years," the central bank said.

Domestic demand is being buoyed by higher employment, which has driven household spending. An improvement in financing conditions has supported investment spending.

The growth of public sector wages will likewise support spending, which in turn will increase corporate profits and allow private sector wages to rise as well. Endit