In its autumn economic forecast, the European Commission announced significantly better indicators for Slovenia than the average in the euro area and the entire European Union (EU). Slovenia is forecasting a 7.1% decrease in gross domestic product (GDP) for this year, but this is much lower than the 7.8% decrease in countries in the euro area. The forecasts for the next two years are also better, with the Commission forecasting 5.1% GDP growth in Slovenia in 2021 (4.2% in the euro area) and 3.8% growth in 2022 (3% in the euro area). Overall, the forecasts for Slovenia are better than the average for the euro zone.
Better predictions have largely been ignored in our country. The media is to be partially blamed for this as they did not report on it. The only person to point this out was MEP Romana Tomc. She wrote that we will be the winners if the commission’s predictions come true, adding that the Slovenian government is clearly effectively dealing with the crisis.
The coronavirus pandemic resulted in a very big shock to the world economy, and the consequences will be very serious. The economic effects of a pandemic vary widely across the EU, as do the prospects for recovery. Both depend on the spread of the virus, the severity of the public health measures taken to contain it, the sectoral composition of national economies and the strength of national policy responses. Slovenia is considered to have taken effective measures against the epidemic, which ensure a rapid recovery of the economy, as well as the health and well-being of its people. The Slovenian government has so far prepared six so-called anti-COVID laws to contain the epidemic and mitigate its consequences for citizens and the economy.
The government is successful, and the success is also confirmed by the increase in the Slovenia’s credit rating – international agencies rank Slovenia among the most reliable countries for foreign investors. This should not be taken for granted as the same agencies are lowering ratings of other countries. But the increased rating for Slovenia confirms the confidence of the international environment in the current government’s measures. And that is what counts.
Highlighted sentence:The Slovenian government led by Janez Janša with its measures in the fight against COVID-19 is one of the most successful governments in the European Union .