This year Slovenia is expected to see a GDP drop of 6.7% as a result of the crisis caused by the global coronavirus pandemic, according to the latest estimate by the country's Institute of Macroeconomic Analysis and Development (UMAR), which thus revised its forecast of a 7.6% decline made three months ago.

According to the new forecast, Slovenia’s GDP will drop by 6.7% this year and then grow by 5.1% in 2021 and by 3.7% in 2022, thus returning to its last year’s level.

Due to negative influences in the international environment, exports are expected to fall by 12.5% this year, and then grow by 9.3% next year and by 6.8% in 2022.

Personal consumption is projected to go down by 6.6% this year, and then increase by 4.7% in 2021 and by 3% in 2022.

The unemployment rate should increase to 9.1% this year and to 9.5% next year, before decreasing to 8.5% in 2022.

Gross pay is expected grow in nominal terms this year and next. However, in real terms gross pay should decrease by 0.7% in 2021 and increase by 0.8% in 2022.