IMAD upgrades its macroeconomic forecasting tools under the Technical Support Instrument funded by the European Commission
The Institute of Macroeconomic Analysis and Development of the Republic of Slovenia (IMAD) has upgraded its macroeconomic forecasting tools under the Technical Support Instrument (TSI) of the European Commission’s Reform and Investment Task Force (SG REFORM). The project was delivered by the ASCENT+…
Charts of the week from 24 to 28 November 2025: consumer prices, economic sentiment, turnover in trade and other charts
Year-on-year growth in consumer prices in November fell to its lowest level since June, with food and non-alcoholic beverages remaining the largest contributors to overall inflation. The economic sentiment indicator strengthened further in November and, for the first time in…
Slovenian Economic Mirror 7/2025: Since mid-year, activity has strengthened across most sectors and business sentiment has improved
Activity in most sectors in Slovenia has strengthened on a month-on-month basis since mid-year. The strongest increase was recorded in construction activity, particularly construction investment in infrastructure and non-residential buildings. After…
Charts of the week from 17 to 21 November 2025: number of persons in employment, average gross wage per employee and Slovenian industrial producer prices
The number of persons in employment in September was 0.4% lower year-on-year, a decrease similar to that recorded in previous months and over the first nine months of the year. The sharpest year-on-year decline in September was recorded in administrative and support service…
National productivity board
IMAD analyses productivity and competitiveness as the national productivity board
GDP and prices
This year, GDP growth is expected to slow to 0.8% (down from 1.7% last year), well below the levels projected in the spring (2.1%). The deceleration is primarily attributable to weaker export activity, particularly in the first half of the year, reflecting the economy’s relatively strong exposure to challenges in European industry. Economic growth in 2025 will be driven mainly by domestic demand, especially household consumption, supported by robust employment and accelerating wage growth. Inflation in 2025 (2.9% year-on-year at end-2025) will be somewhat higher than last year, mainly due to higher food prices, and above the level projected in the spring, before gradually easing over the next two years (towards 2.3%).
Labour market
Employment is projected to decline on average in 2025, and then largely stagnate over the following two years, while unemployment is expected to remain low throughout the entire period. Nominal wage growth in 2025 will exceed last year’s growth, driven mainly by increases in the public sector (phasing-in of the wage reform) before easing somewhat thereafter. Real wage growth will exceed the rates observed a decade ago.
International trade
Total exports this year are expected to remain broadly unchanged from last year, and significantly below the levels projected in the spring. Goods exports are projected to decline, mainly due to lower exports of intermediate goods, while services exports are expected to increase. With a gradual improvement in foreign demand, a recovery in the export-oriented sector of the economy is anticipated over the next two years. The current account surplus is gradually declining.
IMAD
The Institute of Macroeconomic Analysis and Development of the Republic of Slovenia is an independent government office.
The Institute performs the following tasks:
- it monitors and analyses current trends and development in its economic, social and environmental dimensions;
- it monitors and analyses the achieving of the development objectives of the country;
- it prepares macroeconomic forecasts and other expert groundwork that serve as the basis for budgetary planning and formulating economic policy measures;
- it analyses productivity and competitiveness as the national productivity board;
- it carries out research work.