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Crisis Exit

In Slovenia, like in other countries in Europe, the economic and financial crisis appears to be easing, and some economies are already showing the first signs of recovery. The latest crisis has exposed numerous weak points in existing systems, so the recovery will require radical structural changes. This has also been the case of Slovenia, where the economic crisis has placed a mirror in front of us and (among other things) has made confront with all the urgently needed reforms which we could not carry out as a society in the previous years.

 

For this reason the  Slovenian Exit Strategy 2010-2013 (517 KB), which the Government adopted at the beginning of February, is a very important starting point for the further development of this country. This document was created gradually, over numerous discussions while shortterm anti-crisis measures were being adopted, during the drafting of the programming budget 2010 - 2011 and parallel to the formulation of key development priorities. In this process it became very clear which are the most necessary structural adjustments, if Slovenia wishes to maintain an internationally competitive economy and the status of a social state.

 

With the outbreak of the crisis in 2009 the Slovenian Government adopted several packages of short term anti-crisis measures to cushion the shock experienced by the economy. This measures enabled the preservation of numerous jobs and prevented the growth of poverty, but in the long term neither the economy nor the country can survive in this way. The consideration of when to leave off anti-crisis measures and what to replace them with is part of the exit strategy, which in the narrower sense means precisely this: planning the speed and sequence of withdrawing measures that have helped the economy weather the crisis in the short term. In the broader sense the exit strategy and structural measures determine the orientation and objectives for the period after the crisis. The harmonisation of short-term anti-crisis measures with the objectives of long-term structural changes is therefore a key task for the aforementioned document.

 

The exit strategy has been mapped out as a combination of economic policy measures, structural changes and institutional adjustments, which while ensuring fiscal sustainability, will ease the social position of the weakest and strengthen the competitiveness of the economy and the creation of jobs. The long-term and primary objective of course is sustainable economic growth.

 



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