Slovenia having positive changes in curbing crisis: PM

Ljubljana (Slovenia), March 20: Slovenia is witnessing positive changes in curbing growing financial crisis, thus making the restructuring of economy and growth possible, Prime Minister Alenka Bratusek said Wednesday.

Thanks to the stabilisation of national banking system, Bratusek told media, negative growth has been reversed and the interest rate on Slovenian debt dropped below four percent, Xinhua reported.

This is the biggest achievement since this government took office in March 2013, she said.

In the last quarter of 2013, the country’s gross domestic product (GDP) increased by 2.1 percent in comparison with the same quarter during 2012, a survey by the Statistics Office found in February.

Slovenia has “technically slipped out of recession” after eight quarters of negative growth, analysts said.

Based on the positive phenomena, Bratusek said, the government will strive for job creation with the target number of 60,000, while putting an end to “reckless austerity” that had weighed down on private spending and corporate investments.

On the government-initiated privatisation, she said that while the process of transferring ownership of state enterprises is proceeding as planned, she is “not in favor of reckless and cheap sell-off”.

The financial crisis that has been going on for years in Slovenia spured the call for speeding up the process of privitisation in the country.

To overcome the crisis, Slovenian parliament approved in June 2013 to sell state-owned stakes in 15 companies, including flag carrier Adria Airways, and New Credit Bank Maribor (NKBM), the second largest banking group in the country.

IANS