The Slovenia Times

Slovenia to Keep Deficit below 3% in 2015, FinMin Says


After taking over last year, the incumbent government focused on public finance and adopted supplementary budgets that prevented massive deficits in 2014 and 2015, the minister said.

However, there is no time to rest on the laurels. Next year will be very hard as regards public finance, said the minister, adding that budget revenue will drop in 2016 compared to 2015.

People expect that things will go well and that budget revenue will increase due to economic growth, "but unfortunately this will not be the case."

2015 is the final year in which EU members can draw funds as part of the old financial perspective. This means that public investments will increase by 30% this year and drop back to the previous level in 2016, according to Mramor.

The minister is nonetheless optimistic, as he expects an increase in private investments, while the state will provide funds via the European Commission's investment scheme.

Mramor moreover said that the corporate sector is no longer over-indebted, which is the result of successful restructuring carried out by companies and with the help of the government, the Bank Asset Management Company and the Sovereign Holding.

"The debt of the Slovenian corporate sector is currently under the EU average and the Eurozone average," said the minister. "We're doing all right, on average. But on average means that we have one arm in the deep freeze and the other in the flames."

He reiterated that the government was dedicated to complete the privatisation of 15 companies earmarked for sale. He added that the government's state asset management strategy and investment classification will be discussed by the National Assembly in June and July.


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