Executive Summary
Assessment and Recommendations
Chapter 1. Restoring a Sustainable Growth Path within the Monetary Union
-The global economic crisis poses new challenges to economic policy
-Beyond the crisis, maintain a steady economic catch-up without macroeconomic imbalances
-To achieve sustainable growth within the euro area, well-directed policies are needed
-Annex 1.A1. Growth accounting framework
-Annex 1.A2. Shift-share analysis of labour productivity growth
-Annex 1.A3. Main Structural Reforms in Slovenia
Chapter 2. Keeping Public Finances on a Sustainable Path and Improving Efficiency
-Fiscal consolidation has paid off...
-...But is exposed to several risks
-A new pension reform is needed to ensure long-term fiscal sustainability
-Restraining public spending...
-...And improving its efficiency
-Making the tax system less distorting for growth
-Annex 2.A1. The Convergence and Stability Programmes of Slovenia and actual fiscal developments
-Annex 2.A2. Generational accounting: An illustrative simulation of the wealth impact of ageing pre-funding on younger and older generations
-Annex 2.A3. Main tax reforms
Chapter 3. Improving the Functioning of the Labour Market
-Labour market performance has been improving...
-...But challenges remain
-Boosting the labour force participation of the elderly
-Raising the employment rates of youth
-Coping with rising labour market dualism
-Annex 3.A1. Estimating a time-varying NAIRU by means of the Kalman filter
-Annex 3.A2. Investigating the impact of Slovenian labour market reforms
Chapter 4. Enhancing the Business Environment to Foster Productivity Growth
-Changing ownership and enterprise structure
-Good business environment and adequate entrepreneurial dynamism
-Recent initiatives to improve the business environment
-Strong market concentration in key service sectors
-Annex 4.A1. Estimation of mark-ups for Slovenian industries
Glossary