Real GDP growth in 2017 Makes 5%

According to preliminary data of the Statistical Service, in 2017 the real GDP of Slovenia grew by 5% and amounted to 43.3 billion euros. An increase in nominal GDP, as compared to 2016, made 7.1%. In the fourth quarter of 2017, the country’s GDP, as compared to the last quarter of 2016, grew by 6%.

In January this year, the state budget surplus amounted to 7.6 million euros. For comparison, according to the results of 2016, the budget was fulfilled with a deficit amounting to 21 million euros. According to the results of the last year, the volume of revenues amounted to 771 million euros, and the volume of expenditures made 763.4 million euros.

These figures, according to the Prime Minister Miro Cerar, indicate the correct choice of the strategy for economic development and financial consolidation. Slovenia reduces the national debt and achieves significant progress in financial consolidation, as the budget of the current year is fulfilled with a surplus. According to the current budget, the planned surplus for the year 2018 will be 50.8 million euros.

The growth rate of domestic consumption (3.2%) in 2017 was the highest for the last 10 years.

The key factor in the last year’s economy development was export. As compared to 2016, it grew by 10.6%.

The unemployment rate (5.8% in the fourth quarter of 2017) returned to the statistical values of the second quarter of 2009. In total, last year, the number of employed persons increased by 27 thousand people (2.8%) – up to 986,000 employed persons. According to the data for the fourth quarter of last year, there were about 28 thousand unemployed men and 32 thousand unemployed women in the country. The largest number of unemployed persons is recorded in the age category from 25 to 34 years (about 18 thousand people or a third of all unemployed).