Weekly Review of the Slovene Economy from 25 through 31 December

Ljubljana, 2 January - Slovenia concluded 1999, the year in which it introduced the VAT, with an eight-percent yearly inflation. The average yearly inflation totalled 6.1 percent, which was 0.7 percent below government's forecasts. The sale of the bankrupt vehicle producer TAM widely resounded in the last week of 1999. On 29 December the trustee in bankruptcy signed a sales contract with the consortium of buyers. The consortium, which was set up with the help of the Slovene Development Corporation (SRD), has bought TAM for SIT 9.4 billion (DM 94 million). Before the contract was signed, the consortium made a deposit totalling 10 percent of the named sum.