EU Commission markedly upgrades Slovenia's GDP growth forecast to 4.7%

The Commission wrote Slovenia's real GDP increased by 4.8% in the first half of the year, thereby surpassing the pre-crisis level.

Domestic demand increased by another 3.4%, while investment also got stronger, by 10%. Export growth remained strong as well, exceeding import growth, which contributed additionally to the current account surplus. Solid growth is also expected in the second half.

The Commission expects 4% GDP growth in 2018 and a 3.3% expansion in 2019, including due to stronger domestic demand that will in turn fuel investment. Industrial production, exports and construction sector investment are also expected to continue growing.

A moderate reduction is meanwhile projected in 2018 and 2019 in the current account surplus.

The Commission meanwhile mostly sees risks for excessive growth, arguing increased consumer optimism and easier access...