LJUBLJANA, April 4 (Xinhua) -- Slovenia's economy is expected to expand by 0.9 percent in the first quarter of 2024, the central bank said Thursday.
Although the economy slowed down from last quarter's growth of 1.1 percent, it is 0.6 percent higher than the same period of 2023.
"Economic conditions in Slovenia have remained favourable in the first quarter according to available data," the Bank of Slovenia said.
The labor market remains robust as data show that employment will continue to rise in the future, mainly in the service and construction sectors, it added.
Average wage increased by 8.1 percent year-on-year in January, with the most substantial hikes occurring in the industry and construction sectors, the bank said.
Slovenia, which has an export-oriented economy, registered an economic growth of 1.6 percent in 2023 and the government expects a growth of 2.4 percent this year.
