Aleš Delakorda of the government macroeconomic forecaster IMAD has noted that productivity is not just the element on which companies build their long-term existence and competitiveness, but also has numerous beneficial effects for the national economy and prosperity.

According to IMAD, which organises the conference with the European Commission Representation, Slovenia's productivity has been at around 80% of EU average for years.

In addition, Delakorda said that analyses for 2002-2015 showed significant differences in productivity between the best and the worst companies.

While productivity growth does depend on the management of companies and their strategies, economic policies also play an important part as they can ensure better access to financing, quality public administration, good education and taxation, among other things.

IMAD believes that Slovenia should address the issue of productivity in a comprehensive way with the goal of ensuring growth for SMEs and finding the right ratio between bigger companies and smaller, niche players.

Furthermore, Slovenia should take the opportunity of the current positive economic trends to introduce structural change that would ensure a stable growth and immunity to new crises.

Achieving these goals could be made easier with good foreign investors, which bring their know-how, productivity and inclusion in global systems, IMAD head Boštjan Vasle said.

According to Vasle, an increase in productivity is one of the solutions to a more sustainable balancing of the Slovenian public finances.

While structural change will not happen overnight, a clear strategy and bolder moves will make it possible for Slovenia to catch up with the developed countries faster, IMAD also noted ahead of the conference.