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€20.6 -0.2  -1.0%

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Sector
Industrials
Size
Small Cap
Market Cap £247.5m
Enterprise Value £260.7m
Revenue £181.7m
Position in Universe 126th / 646

UPDATE 1-Slovenia sees higher 2014 GDP growth as exports rise

Fri 21st November, 2014 11:23am
(Adds quotes, details, background) 
    By Marja Novak 
    LJUBLJANA, Nov 21 (Reuters) - Slovenia, which narrowly 
avoided an international bailout last year, expects growth in 
2014 to surpass the government's September forecast of 2 
percent, Deputy Prime Minister Dejan Zidan said on Friday. 
    "We can expect economic growth this year to reach 2.4 
percent based on high growth of exports," Zidan told a 
conference of Slovenian and Chinese businessmen. 
    Slovenia has been in recession the last two years largely 
because of a fall in domestic spending and investment. 
    Slovenia's export-oriented economy is focused on European 
Union markets, which account for as much as 77 percent of the 
country's foreign sales. 
    But the country hopes to reduce this dependence on EU trade 
and Zidan said Slovenia wants to increase exports to China, 
which at present represent only a fraction of Slovenian sales. 
    "I expect we could increase exports to China in the areas of 
car parts, electrical equipment parts, tourism, food and wine," 
he said. 
    China's Deputy Prime Minister Wang Yang told the same 
conference that China was ready to support private-public 
partnerships that would develop Slovenian ports, airports and 
energy firms.   
    Zidan said that although Slovenia wanted to keep state 
control of its main port, Luka Koper  LKPG.LJ , it could form a 
partnership with China to expand Luka and the railway line 
leading to it. 
    "Talks on this will continue in the coming months," he said. 
    Slovenia, which borders Italy, Austria, Hungary and Croatia, 
was badly hit by the global crisis due to its dependency on 
exports. It managed to avoid an international bailout last year 
by pumping more than 3 billion euros of state money into local 
banks which are mostly state-owned. 
 
 (Reporting By Marja Novak; editing by Zoran Radosavljevic and 
Crispian Balmer) 
 ((Marja.Novak@thomsonreuters.com; +386-8-205-63659; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA GDP/
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