By: Vida Kocjan
A look at the year 2020 shows that the Slovenian government’s response to the health crisis due to COVID-19 epidemic was rapid, and numerous measures were undertaken to help the population and the economy. The economy acknowledges this to the government.
The government has allocated 5.3 percent of Slovenia’s gross domestic product (GDP) to fight the epidemic, which puts Slovenia at the top of Europe and the world.
So far, it has helped more than 300,000 retirees, nearly 54,000 students and just under 30,000 families with three or more children. The self-employed also received assistance, namely 51,500 in the first wave and 33,700 in the second. Compensation for waiting for work was paid to more than 200,000 people, and compensation for part-time work to 33,000 people. Despite all this, the government has maintained a stable financial system.
Due to the efficiency in the implementation of measures, Slovenia will have faster and higher economic growth compared to other EU Member States. The country is expected to reach the pre-crisis levels of economic activity before the second half of 2022, which will be a great success.
Furthermore, the government prevented enormous unemployment. The measures thus maintain a low unemployment rate, which is also well below the EU and euro area averages.
However, the aid to mitigate the effects of the epidemic has cut into public finances, so this year’s budget deficit will be 4.2%, which is still much less than in 2013 and 2014, when the government of Alenka Bratušek shovelled money into a bank hole and to rescue the tycoons of the deep state.
It’s different now. The money goes directly to the population and the economy. In doing so, we have a lower budget deficit, with government debt at 78 percent of GDP, which is still less than years ago.
At the same time, foreign credit rating agencies rank Slovenia among the reliable countries for investors. This is proof that the government’s measures are decisive and effective, even if the opposition parties SD, LMŠ, Levica and SAB, together with their media, bang their heads against a brick wall day and night. The numbers don’t lie; the statistics are relentless.
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A look at the year 2020 shows that the Slovenian government’s response to the health crisis due to the COVID-19 epidemic was rapid, helping the population and the economy.