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Weekly Review of Slovene Economy from February 1 to 7

Ljubljana, 7 February - The National Assembly passed the law on partial privatization of the Slovene Ironworks on Wednesday, 4 February. The law allocates six billion Slovene tolars of fresh capital for the ironworks, to be given in two equal shares in 1998 and 1999. It also earmarks SIT 700 billion of budget funds for the 2000 to 2500 redundant workers. The government will also take over the ironwork's liabilities, to fall due in 1998, arising from state-guaranteed loans for standing current assets. These include SIT 4 billion of the principal and about SIT 370 million of interests. The entire rehabilitation project will be primarily based on four companies, including Acroni Jesenice, Jeklo Štore, Metal Ravne and Ravne na Koroškem-based STO.

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