The Slovenia Times

EU Commission Warns of Slovenia's Deficit


The passage of the budgets for the next two years had been noted and now various amendments are being analysed, said Simon O'Connor, the spokesperson of Commissioner for Economic and Financial Affairs Olli Rehn.

He added that the Commission had already taken into account the draft budget for 2013 in the drawing up of its November forecast which puts Slovenia's deficit at 3.9% next year.

Slovenia is already being processed by Brussels over excessive deficit and has gotten the year 2013 as the deadline by which it must bring the deficit below 3% of GDP as set by the EU budgetary regulations.

The Commission will update its expectations regarding Slovenia's deficit in 2013 in its winter economic forecast that will be published in February.

"Of course it is crucial that Slovenia passes fiscal measures necessary for a sustainable lowering of the excessive deficit," O'Connor pointed out.

The Commission also welcomed this week the passage of the pension reform by the Slovenian parliament as a "welcome signal" that Slovenia recognises its challenges in connection to long-term fiscal sustainability.

Commenting on speculations that Slovenia might request an international bailout, O'Conner reiterated that Slovenia had not asked for aid and that the Commission had no indications that this might happen.


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