News roundup - Wednesday, 20 November

National Assembly adopts ambitious budget bills for 2025, 2026

LJUBLJANA - MPs passed budget bills for the coming two years, among them a revised budget for 2025 that increases expenditure by 8% to EUR 17.1 billion, mainly to fund the public sector wage reform. While the coalition is confident about the figures and priorities, opposition MPs see the record-high budgets as unrealistic and imprudent. For 2025, revenue is projected to grow by 4.6% to EUR 15.2 billion, which should result in a deficit of 2.6% of GDP. Expenditure is budgeted at a similar level in 2026, but revenue is projected to increase by 4.5% with the deficit dropping to 1.6% of GDP.

Mobile app millions top wealthiest Slovenians list once again

LJUBLJANA - Iza Sia and Samo Login, the former spouses who made their wealth with the hit mobile app Talking Tom, once again top the list of the wealthiest Slovenians compiled by the business portal Finance. In third place is Jure Knez, a co-founder of software developer Dewesoft, estimated to be worth EUR 360 million, 48% more than a year ago. The assets of 100 wealthiest Slovenians are estimated to have grown by 14% compared to last year to reach a record EUR 9.97 billion.

MPs pass changes to boost banks' resilience to crisis

LJUBLJANA - MPs backed changes to the Resolution and Compulsory Winding-Up of Banks Act that incorporate EU legal changes requiring banks to hold sufficient capital and eligible liabilities to cover losses in financial distress. The bank resolution fund will be restructured as well. The revised rules ensure proportional treatment of financial instrument deductions for cross-border banking groups, preventing loss coverage from being shifted to unaffected banks in such groups, said Saša Jazbec of the Finance Ministry.

Co-funding of research into rare diseases confirmed

LJUBLJANA - MPs confirmed legislative amendments under which the state will co-finance the final stages of research of orphan drugs to help children with rare diseases, after the case of a five-year-old boy with a rare genetic disorder prompted a massive fundraising campaign. Applicants will be able to petition the government to finance drug development based on a positive opinion from the relevant state agency. Financing will be limited to EUR 1 million per individual drug and to drugs developed by Slovenian organisations, which can collaborate with international organisations.

Minister Kumer hopeful about pending draft conclusions at COP29

BAKU, Azerbaijan - Expectations are rising at COP29, with growing hopes for progress on climate financing, Environment, Climate, and Energy Minister Bojan Kumer told reporters However, he noted that the most significant disagreements remain over the scale of financial commitments and the priorities to be addressed. Chief Slovenian climate negotiator Tina Kobilšek stressed the importance of preserving last year's progress on mitigation. "Ideally, we would move forward, but for now, it seems we are working to maintain last year's agreements," she said.

Slovenia up eleven spots in Climate Change Performance Index

BAKU, Azerbaijan - Slovenia gained eleven spots to rank 30th in this year's Climate Change Performance Index (CCPI), which is the first time the country ranks among the medium performers. Key demands for the country are expansion of renewable energy production, phasing out of fossil fuel subsidies as soon as possible and reducing energy consumption, especially in transport. The CCPI is compiled by NGOs Germanwatch, NewClimate Institute and the Climate Action Network International (CAN).

Infrastructure Ministry presents plans for railway upgrades

LJUBLJANA - The Infrastructure Ministry presented plans for upgrading the railway network, with Minister Alenka Bratušek saying that rather than finance, siting procedures are a major challenge. Railways are an absolute priority in infrastructure, which is also reflected in the fact that EUR 1.1 billion is earmarked for railway projects next year and EUR 1.2 billion in 2026, Bratušek said. She added that the closest to finalisation is the double-track railway line between Ljubljana and Kranj.

Triglav group posts EUR 107m profit in first nine months

LJUBLJANA - In the first nine months of 2024 the insurance group Triglav reported EUR 106.8 million in net earnings, while in the same period last year it reported a net loss of EUR 9.6 million. The total business volume reached EUR 1.305 billion, a 4% year-on-year decline. Earnings before tax stood at EUR 124.7 million, up from a negative 10.1 million in the first nine months of 2023. For 2025 the group projects earnings before tax will amount to EUR 130-150 million and net earnings to EUR 100-120 million.

Steel group SIJ plans to double sustainable bond issue

LJUBLJANA - SIJ, Slovenia's largest steelworks, plans to extend an existing issue of sustainable bonds by EUR 22.1 million based on investor interest. The transaction will be completed on 25 November, the company said. SIJ originally issued the three-year bond in November 2023 at the nominal value of EUR 19 million and an annual interest rate of 7%.

Slovenia records second largest decrease in construction in EU

LJUBLJANA - Slovenia recorded one of the largest growths in the volume of construction work in September compared to other EU or Eurozone countries at 1.7%, while in annual comparison it experienced the second largest drop at 17.6%, shows data published by Eurostat.

European Capital of Culture will be sustainable, green and connective

LJUBLJANA - The full programme of the 2025 European Capital of Culture Nova Gorica-Gorizia was presented, with the organisers noting that, having been conceived as a sustainable, green and connective project, it will leave a lasting mark. This is not a project of one or two municipalities but a national project, which is to allow Slovenia's youngest city in cooperation with Italy's Gorizia to offer a platform for a reflection on society and the future, Culture Minister Asta Vrečko said.

Spatial data interoperability proceeding apace

BRDO PRI KRANJU - The Surveying and Mapping Authority (GURS) is in the midst of carrying out a five-year, EUR 48 million project called SLO4D designed to make digital data on spatial management, the environment, waters, real estate and nature interoperable. Some of the project outcomes are already being used in practice, GURS director Tomaž Petek told the press. One tangible outcome of the project is a lidar recording of Slovenia's entire territory in a much higher resolution than had been available before.

Intereuropa sets up new intermodal link between Koper and Belgrade

KOPER - Logistics group Intereuropa announced it had set up a new railway connection between the port in Koper and the Nelt Dobanovci terminal in Belgrade. The advanced intermodal link will enable more efficient and cost-effective logistics solutions to companies in the region, it added. The new link allows transit times of just three days, ensuring timely and reliable deliveries.

Data apparently not stolen in Maribor uni cyberattack

MARIBOR - Four weeks after a severe cyberattack on the University of Maribor, many processes have been restored and the university's e-mail system and websites are back online. The investigation into the attack is still ongoing but it does not appear that any data was stolen, the university said. According to Večer, Rector Zdravko Kačič denied claims that the hackers demanded a EUR 2 million ransom from the university. "We did not have any contact with the attacker and there was no extortion," he said.

Car industry supplier Emo Orodjarna enters receivership

CELJE - After months of uncertainty, Emo Orodjarna, a loss making manufacturer of tools for cold forming sheet metal for the automotive industry, entered receivership procedure launched by the Celje District Court. Creditors have until 20 February to register their claims, according to a filing with the Agency for Public Legal Records (AJPES). The news comes after months of media reports about unpaid wages for the company's 150 workers.

Mental health support efforts mark World Children's Day in Slovenia

LJUBLJANA - Efforts by UNICEF Slovenia to highlight systemic gaps, destigmatise the conversation about mental health and strengthen the competences of teaching staff to work in a child-centred way marked the honouring of World Children's Day in Slovenia. On the occasion, UNICEF junior ambassadors met with leading officials, including Prime Minister Robert Golob, to present 90 stories of children's distress unveiled recently by UNICEF Slovenia as part of its Closet of Struggles campaign.

Aircraft designer Boscarol and his aircraft honoured with stamp

AJDOVŠČINA - Pošta Slovenije unveiled a special commemorative postage stamp celebrating prominent aircraft designer and entrepreneur Ivo Boscarol. Featuring Boscarol and the Velis Electro aircraft, produced by Pipistrel, the stamp will be available from 22 November. Boscarol, who was labelled by the national postal service provider as a trailblazer in global aviation and an inspiring humanitarian, said that "among all the recognitions I have received, this stamp holds a special place."