Bank of Slovenia forecasts economic contraction in 2012


In its latest monthly bulletin, published on April 3, the Bank of Slovenia outlined the "deteriorating" condition of its economy and forecasted further contraction by 1.2% in 2012.

This compared with a contraction of 0.2% in 2011. The rate of contraction was more pronounced as 2011 progressed, with the economy shrinking by 0.7% in the final quarter of the year, the bulletin said.

Two-thirds of Slovenian economic activity is derived from the services sector, with its position as an important

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