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Economic situation in Slovenia remains strained

Autor: half
LJUBLJANA, July 5 (Hina) - Despite some improved indicators in recent months, the economic situation in Slovenia remains strained, the government's office for macroeconomic analyses (UMAR) said in its latest bulletin on Friday.

The UMAR warned about the low level of economic activity in Slovenia, which is present in other eurozone countries as well.

Despite a growth trend in real exports and industrial output in the first four months of the year, economic activity and the economic climate indicators remain far from the level before the crisis, notably on the labour market and in the banking sector.

The number of the employed in April was down 3.2 per cent on the year, while the registered unemployment rate rose to 13.2 per cent. More than 118,500 people were registered with the employment office in May.

Lending continued to decline, by EUR 850 million in the first five months of the year.

Meeting foreign credit commitments raises the pressure on the liquidity of Slovenian banks, as does a decline in retail deposits, additionally impacting asset quality. The volume of state deposits in national banks increased in May after Slovenia secured EUR 2.7 billion on the international market with two bond issues in US dollars.

(Hina) ha

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