Slovenian Economic Mirror
Slovenian Economic Mirror
Slovenian Economic Mirror - March 2008
Contents
| In the Spotlight | The spring forecast for 2008 projects slowdown in economic growth and easing in inflation pressures |
| Gross Domestic Product | Economic growth slowed in the final quarter of 2007, as expected, but yearly growth was still the highest since 1991 |
| International Environment | According to the latest forecasts, at least in the first half of 2008 the impact of the financial crisis will not contribute to an additional slowdown of economic growth in the EMU |
| Price and Cost Competitiveness | Deterioration of price and cost competitiveness in 2007 |
| Competitiveness – Market Shares | High growth of market shares on the markets of EU trading partners in 2007 |
| Balance of Payments | In January, current account deficit increased substantially due to the deterioration of the balance of trade in goods and services |
| Trade in Services | The surplus in trade in services exceeded EUR 1 bn for the first time, also due to structural improvements |
| Price Trends & Policy | Measures of core inflation show increase over the past few months |
| Money Market – Household Savings | Mutual funds managed by domestic administrators recorded the highest net outflows to date |
| Money Market – Loans | Lending activity of banks picked up again in January |
| General Government Revenue, Expenditure and Deficit | General government deficit for 2007 estimated at 0.1% GDP, the lowest figure since 1995 |
| Labour Market | Favourable trends on the labour market continued also at the beginning of 2008 |
| Earnings | January’s wage levels lower in private and public sector |
| Manufacturing | Industrial production continues to slow down |
| Distributive Trade | Last year’s growth of value added in trade the highest since 1991 |
| Tourism | The number of overnight stays exceeded 8 m for the first time after 1991 |
| Private Consumption and Household Indebtedness | Differences between real consumption growth and growth of disposable income last year higher than anticipated |
Selected topics | |
| Population’s Economic Strength by Regions | Slow decline in regional disparities in population’s economic strength |
| Agriculture – Purchase Prices | Growth of prices picked up last year; forecasts are mainly linked to new crops |