Slovenia - European Commission - Europa EU

Mar 7, 2018 - Graph 1.7: Net international investment position - by sector. 7. Graph 1.8: ...... In spite of efforts. (setting up a helpdesk, offering monthly trainings.
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EUROPEAN COMMISSION

Brussels, 7.3.2018 SWD(2018) 222 final

COMMISSION STAFF WORKING DOCUMENT Country Report Slovenia 2018 Including an In-Depth Review on the prevention and correction of macroeconomic imbalances

Accompanying the document COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK AND THE EUROGROUP 2018 European Semester: Assessment of progress on structural reforms, prevention and correction of macroeconomic imbalances, and results of in-depth reviews under Regulation (EU) No 1176/2011 {COM(2018) 120 final}

EN

EN

CONTENTS Executive summary

1

1. Economic situation and outlook

4

2. Progress with country-specific recommendations

11

3. Summary of the main findings from the Macroeconomic Imbalance Procedure In-Depth Review

15

4. Reform priorities

18

4.1. Public finances and taxation

19

4.2. Financial sector

26

4.3. Labour market, education and social policies

31

4.4. Investment

37

Annex A: Overview Table

47

Annex B: Macroeconomic Imbalance Procedure Scoreboard

53

Annex C: Standard Tables

54

References

60

LIST OF TABLES Table 1.1:

Key Economic Indicators

10

Table 2.1:

Summary Table in 2017 CSR assessment

14

Table 3.1:

Macroeconomic Imbalance Procedure assessment matrix

17

Table 4.2.1:

Financial soundness indicators, all banks in Slovenia

26

Table 4.4.1:

Construction is expensive

43

Table B.1:

The Macroeconomic Imbalance Procedure scoreboard for Slovenia (AMR 2018)

53

Table C.1:

Financial market indicators

54

Table C.2:

Headline Social Scoreboard indicators

55

Table C.3:

Labour market and education indicators

56

Table C.4:

Social inclusion and health indicators

57

Table C.5:

Product market performance and policy indicators

58

Table C.6:

Green growth

59

LIST OF GRAPHS Graph 1.1:

Contributions to GDP growth

4

Graph 1.2:

Development of public and private investment

4

Graph 1.3:

Investment by type

4

Graph 1.4:

Contribution to potential growth

5

Graph 1.5:

Export market shares change with contributions

7

Graph 1.6:

Real effective exchange rate based on unit labour costs

7

Graph 1.7:

Net international investment position - by sector

7

Graph 1.8:

Debt decomposition

8

Graph 1.9:

House price developments

9

Graph 2.1:

Overall multiannual implementation of 2011-2017 CSRs to date

Graph 3.1:

Non-performing exposure of domestic banks (including foreign-controlled subsidiaries

11

and branches)

15

Graph 3.2:

Arrears developments

15

Graph 4.1.1:

Gross debt - DSA

21

Graph 4.1.2:

Alcohol, overweight and obesity problems are greater in Slovenia than in most other EU countries

23

Graph 4.2.1:

Year-on-year credit growth, adjusted for sales and securitisation