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Slovenia: GDP contracting less than projected

(ANSA) - BELGRADE, 25 SET - The decline in GDP in Slovenia, consequence of the sharp contraction of activity in the second quarter due to the pandemic, will be but smaller than projected in the summer, the Slovenia governmental Institute of Macroeconomic Analysis and Development (IMAD) said this week. IMAD currently predicts a 6.7% decline in the Slovenian GDP in 2020, a better forecast also due to the improvement in the situation in the main Slovenia trading partners in the EU. However, "as the virus is still present and some restrictions remain in place, the recovery will be gradual and its pace uneven across sectors," IMAD said. Moreover, "a possible uncontrolled spread of the virus and thus the possibility of a new major closure of certain activities could lead to a deeper fall in GDP and, in particular, to a slower and prolonged recovery." (ANSA).