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Weekly Review of Slovene Economy from 6 to 11 March

Ljubljana, 11 March - Prime Minister Janez Drnovšek, ministers of finance, economic activities and economic relations and development as well as governor of the Bank of Slovenia met representatives of 18 Slovene biggest exporting companies - Mura (textile), IBN JT, Peko (shoes), Planika (shoes), Rogaška Glassworks, Paloma (paper), Iskra, Slovene Railways, Lek, Krka (pharmaceutical companies) and others. As the government are currently preparing the budget and the basic documents of Slovene economic policy for 1995, they discussed the key problem, i.e. the exports. The question is whether the level of exports from 1994 will be maintained also in 1995 despite the unfavourable exchange rate of the Slovene tolar. The representatives of the exporting companies stressed that, due to differences in exchange rates, inflation, fall of the exchange rate of the Slovene tolar, growth of raw materials prices, high interest rates, too high public expenditure and taxes, Slovene companies were becoming less competitive in foreign markets. They urged the government take appropriate measures. The state should strive for the encouragement of Slovene companies in big markets, like Russia and Poland, and neither should it neglect Croatia and Macedonia for example. Prime Minister Janez Drnovšek said that the government would strive for lowering the inflation rate, however, without any shocks. He announced that the arguments of the exporting companies would be reconsidered and promised that he as prime minister would back such economic policy which will stimulate the exports.

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