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Slovenia: GDP shrinks 5.5% in 2020, weighed down by restrictions

2021-02-26T13:34:52.566Z

Gross domestic product (GDP) plunged 5.5% in Slovenia last year, affected by the strict restrictions put in place since the emergence of the pandemic, according to preliminary estimates released by the National Statistics Office on Friday. . Read also: Portugal: GDP down 7.6% in 2020 This small Alpine country of 2 million inhabitants relapsed in the fourth quarter (-1% over one quarter) after a



Gross domestic product (GDP) plunged 5.5% in Slovenia last year, affected by the strict restrictions put in place since the emergence of the pandemic, according to preliminary estimates released by the National Statistics Office on Friday. .

Read also: Portugal: GDP down 7.6% in 2020

This small Alpine country of 2 million inhabitants relapsed in the fourth quarter (-1% over one quarter) after a strong rebound over the period from July to September (+ 12.2%).

The resurgence in the fall of the number of Covid-19 contaminations led the government of conservative Janez Jansa to decree strict containment in October, causing a drop in household consumption (gasoline, cars, clothes in particular).

The 2020 contraction, which comes after 3.2% growth in 2019, is the country's worst performance since the 2009 global financial recession, but the European Commission, in its winter forecast, expected worse. (-6.2%).

"

Investments, particularly in the technology sector but also in construction, have partially mitigated

" the impact of the health crisis, commented on its website the specialized daily Finance.

In this country very dependent on exports, foreign trade has also withstood the health crisis, the newspaper added.

The European Commission, which evokes the positive role of "

government measures to support employment and limit bankruptcies

", expects a recovery of around 4.7% in 2021.

Source: lefigaro

All business articles on 2021-02-26

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