The national economy of Slovenia will expand by 1.6 percent this year, a full percentage point faster than the spring forecast, Bank of Slovenia said on Tuesday.
Slovenia's economy has been steadily improving this year, Mejra Festic, vice-governor of the central bank, told reporters, adding that the balance of payments has been improving.
Financial analysts attributed the improvement of economy to the increase of export.
The Slovenian economy is becoming increasingly dependent on foreign demand, said Anze Podna who is an expert for national accounts in the Statistics Office.
Exports continued to be the engine of Slovenia's economy, helping GDP expand 1.9 percent at an annual level in the first quarter after 2.1 percent growth in the previous quarter, according to the Statistics Office in May.
However, the Organisation for Economic Cooperation and Development (OECD) predicted in May that Slovenia's economy would expand only by 0.3 percent this year, a growth that is to accelerate to 1.2 percent in 2015.
Slovenia's unemployment rate will stand at 10.2 percent in 2014 and 2015, while general government deficit will drop from 4.1 percent of GDP in 2014 to 2.6 percnet in 2015.
In addition, inflation in Slovenia will rise from 0.7 percent this year to 0.9 percent in 2015, OECD said./.