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Weekly Review of the Slovene Economy from 4 to 10 May

Ljubljana, 12 May - Finance Minister Anton Rop signed and Belgian banking and insurance group KBC sealed this week the long-awaited deal on the sale of a 34-percent share in NLB, Slovenia's largest bank. KBC has agreed to pay 435 million euros for the stake. However the money, the bulk of which is to be used to curb Slovenia's foreign debt, was no help the finance minister when he announced the following day that the government confirmed the proposal for a supplementary budget due to lower-than-expected economic growth, which has led to lower budget revenues. Another long-awaited deal is also approaching the final phase, as the parliament passed the act on the privatisation of insurance companies 11 years after they were transformed into joint-stock companies.

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