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Slovenia Weekly

Economic recovery with strong government support

17.10.2014

Slovenia Weekly replaces Slovenia News as the central government newsletter

Dear Readers,

Welcome to the new government newsletter, Slovenia Weekly, which will keep you informed about the latest news in and about Slovenia. The newsletter will be sent by e-mail every Friday and will also be accessible on the government website.

Slovenia Weekly not only includes general information about Slovenia, but also keeps you updated on the work of the Slovenian government, its policies and activities. We sincerely hope that the revamped newsletter will be informative and help you understand current developments in Slovenia.

Best regards,
Government Communication Office

Editorial

PM Cerar urged the business sector to contribute to Slovenia as a country of fair play in business, politics and elsewhere. Photo: Tanjug/STA
“We have the knowledge, brains, natural resources and geostrategic position. What we need is more optimism.” This statement was made at the recent business summit of business representatives, experts and politicians by the minister for the economy Jožef Petrovič, who added to the words of PM Miro Cerar, urging the co-creation of Slovenia as a country of fair play in business, politics and elsewhere. The PM promised that creating conditions for sustainable economic growth and better competitiveness would be a central task of the Government. There is plenty to be optimistic about.

The International Monetary Fund (IMF) is satisfied with the measures implemented by Slovenia, although, according to finance minister Mramor, many remain, as we should implement the requisite structural reforms and reduce public debt. In the next few months, the Government will focus on consolidating public finances without raising taxes, promoting corporate restructuring, stimulating domestic and foreign investments, continuing the privatisation process and providing incentives to businesses. The finance minister believes that while the measures will not be as painful, “Naturally everyone will have to give up something in order for us to live better.”

In the meantime, despite the short time available since the new government took office, Slovenia was able to send the budgetary documents to Brussels on time. The finance minister said that while the 2015 deficit would be higher than promised, it would still be below the permissible 3 per cent of GDP (2.8 per cent). The 1.4 per cent economic growth forecast by the IMF this year is promising, while a somewhat lower than Slovenia’s estimates. Naturally, the Slovenian economy is not immune to unpredictable geo-political risks, a “financial plague” and slow recovery in the euro area. Nevertheless, the growth curve has finally taken a slight upward turn.

The Government and business hand in hand in the right direction

PM Cerar: Creating conditions for sustainable economic growth and better competitiveness will be a central task of the Government. Photo: STA
The Chamber of Commerce and Industry has hosted its annual Business Summit, which was organised as a series of round tables and panels where 450 leading Slovenian business representatives, experts and politicians discussed the priority measures needed for Slovenia’s economic revival and development. Twelve topic-focused round tables discussed 36 priority measures, which were presented to the Government. Business and industry stakeholders expect the Government to review them carefully and consider them when devising economic policy.

The proposals focus on financial discipline, a ‘slim’ public sector, improved corporate integrity, disburdening the economy, better public procurement, the quality of public expenditure, effective restructuring, attracting fresh capital, the faster development of small companies, the effective investment of EU funds, better support for companies and more foreign tourists. Business representatives also proposed the introduction of certified tax registers for everyone, which would promptly record business transactions, faster garnishment procedures and the reduction of labour-related costs. more...

The Government approves the budgetary plan for 2015

Despite the short time available since it took office, the Government has managed to approve the draft budgetary plan for 2015 on time. With a planned deficit of under 3 per cent of GDP in 2015, it remains committed to its main fiscal target. The document sent by the Government to the Commission and the euro group is based on IMAD's forecasts of economic trends. more...

Slovenia pledges a contribution of €150,000 to reconstruct Gaza

At the international donor conference for Palestine and the reconstruction of Gaza, which took place on 12 October 2014 in Cairo, the international community has again shown great solidarity with the people of Gaza affected during the conflict this summer. more...

For Slovenia, it is clear: more Europe

At the conference Different models of past and future European integration – the view from inside and outside the EU, which was held in Ljubljana on Thursday, foreign minister Karl Erjavec called for a better and more efficient Europe, capable of making fast decisions, particularly in crisis situations. more...

PM Cerar at ASEM: Culture connects business and politics

The Prime Minister of Republic of Slovenia, Miro Cerar, attended the 10th Asia-Europe meeting, which was held under the title ‘Responsible partnership for sustainable growth and security’. In his speech, the Slovenian PM highlighted the need to strengthen economic ties and to reduce social differences between the people living in the various ASEM countries. more...

Opportunities in tourism to boost economic growth

The Days of Slovenian Tourism, held between 13 and 15 October in Portorož this year, are the central industry-related event, bringing together the sector’s major stakeholders. It was also attended by the economy minister Jožef Petrovič, who said, Tourism can become one of the most successful economic sectors in Slovenia, which will also promote the focus on sustainable development. more...

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