Arhiv: Slovenia Business Link Newsletter - May 2016

Slovenia Business Link Newsletter


May 2016


CCIS General Assembly: Include the economy in legislative procedures already in the proposal preparation phase!


At the CCIS General Assembly on 17 May, matters of interest for companies which are currently being dealt with at the Ministry of the Environment and Spatial Planning were discussed between the members and the Minister. In addition, the members adopted the CCIS Activity Report for 2015.

CCIS Wednesday networking events and French-speaking countries

At our fifth CCIS Wednesday networking event on 11 May, companies interested in French-speaking countries were brought together.

Egyptian business leaders visit the CCIS

On the occasion of the visit paid by leading members of the Egyptian Council for Sustainable Development on 11 May, Slovene and Egyptian businessmen were able to engage in more than 70 business conversations.

Once again strong interest shown by Slovene companies at the Forum Agenti business event in Verona

In the last week of April, nine Slovene companies performed about one hundred business interviews in the context of the Forum Agenti Verona held at the Verona exhibition centre. According to the first estimates made by the Slovene participants, they seem to have managed to establish new, potentially interesting business relationships despite the fact that the turnout was lower than expected. In addition, some companies have already entered into concrete business transactions.

Twenty Taiwanese companies successfully visit the CCIS

On 18 April, the CCIS was visited by 20 companies from Taiwan. As part of their so-called European tour, the companies visited also Slovenia, where B2B meetings with Slovene companies were organised for them.


16 May to 17 June: Slovenia Design Showroom Milano 2016

The exhibition will display products by 20 Slovene designers and companies from the wood, furniture and interior-design related sectors.
26 May: Business delegation with B2B meetings
8 June: Round table “Design, architecture and industry"

24 to 28 May: Business Delegation to southern Serbia and Macedonia

The CCIS is organising a business delegation to southern Serbia and Macedonia in cooperation with the SPIRIT Public Agency, the Retail Association of Slovenia (CCIS Chamber of Small Business and Trade) and the Embassy of the Republic of Slovenia in Skopje.

1 June: CCIS Wednesday Networking Events: Remote Overseas Markets

The last CCIS Wednesday networking event before the summer break is going to focus on remote overseas markets, namely: South America, North America with Canada, Australia and New Zealand.

2 June: Waste SOS — Economy Environment Day 2016

On the occasion of the World Environment Day, we are organising the Economy Environment Day Dealing with waste Strategically– Responsibly – Systematically. We will try to find an answer to the following question: "How can we achieve environmental excellence and a circular economy?"

15 June: Small Business Summit

The fifth summit of small enterprises will include the best practices of support to entrepreneurship by SME delegates from the EU, proposals of the new generation of entrepreneurs to the Government of the Republic of Slovenia, a review by the Ministry of Economic Development and Technology of the realisation of the measures proposed last year, as well as the discussion on new measures proposed.


18 May: Business performance in 2015: achievements and warnings

Last year, the performance of the Slovene economy was extremely positive. However, it should be analysed in a comparative way, in a broader context. "We perform really well in such circumstances", says Samo Hribar Milič, the CCIS General Manager. He adds, however, that we should not be lulled. Otherwise, we risk being quickly overtaken by the Visegrad countries, which we compare ourselves with and which are also growing. Therefore we insist on a need for in-depth tax, pension, healthcare and labour market reforms, as well as an optimisation and rationalisation of the public sector. It is essential that public expenditure is curbed.

17 May: Explosion of public spending poses a new threat

"The removal of crisis measures poses a new threat to public finances", warns the IMF. We might be put to a real test with the rise in interest rates as this brings the danger of state expenditure on interest increasing by EUR 300 million a year. More info

9 May: The mysterious trends in oil prices

The CCIS Analitics estimates that the average barrel price will reach USD 48 this year and USD 60 next year. On the demand side, the main reasons are better data regarding the Chinese and American economies. On the supply side, the bankruptcies of small oil companies in the United States are a sign of market consolidation. At the same time, a creditworthy agreement between the coalition of oil-producing countries now seems more likely than before.

9 May: CCIS: The Government should reject the revision of the Directive concerning the posting of workers

The revision of the Directive 96/71/EC concerning the posting of workers proposed by the European Commission would obstruct the effective functioning of the single market. Slovene exporters would not only see a rise in their costs by as much as 30%, but would also be faced with additional administrative burdens and legal unpredictability. Slovene companies would thus fail to compete with foreign ones, which would lead to job cuts. The pay gap between the member states would continue to expand, and not vice versa as the Commission is trying to present. There are also real fears that the Directive could result in further circumvention of the law and thus lead to a higher incidence of undeclared and precarious work.

4 May: Tax reform: instead of misleading, the ministry should take Austria as an example

The proposal for a tax reform, as put forward by the Ministry of Finance, is not being backed up by the economy. Minister Mramor's statements about the proposed measures being supported by the economy are misleading. Only the budget and the public sector will benefit from a tax reform that is as incomplete as this one.

3 May: CCIS: Two key warnings issued by the European Commission

Although the latest spring forecast issued by the European Commission is relatively conservative, it includes two important warnings to the country and its exporters. First, the cost of money is not expected to stay this low forever, therefore the government should take advantage of the time available in order to reduce its public debt. Second, it warns our exporters about weaker export prospects.

22 April: Why is the proposal for fiscal restructuring bad?

The proposal for fiscal restructuring by the Ministry of Finance has a number of negative effects. It should be thoroughly revised or complemented because it would:
1. create an additional burden for companies,
2. not relieve the companies,
3. result in higher pay for only just over 100,000 employees,
4. bring public spending rigidity,
5. privilege the public sector,
6. decrease economic growth.


In the last two months, somewhat more encouraging international news about the condition of the Chinese economy has led to higher prices of oil and other raw materials, contributing to a stabilisation of the optimism in Slovenia's export markets. In the case of Slovenia, the latest estimates by the institutions involved in the GDP growth rate estimations indicate a 2% growth in 2016 and a somewhat higher growth next year (2.3%). Exports are predicted to grow at a slower pace in the next few months due to a delayed cooling effect from the main export markets. The growth is expected to be boosted mainly by private consumption as a result of lower prices of raw materials, and low interest and unemployment rates. In the first three months, the export growth slowed down to 2.9%. However, in real terms it was higher by at least 0.5% due to falling prices. Industrial production has speeded up, reaching a growth of spectacular 7% in the first quarter, which exceeds the EU-28 by three times. On the service side, tourism continues to perform well, as overnight stays increased by as much as a tenth in the first quarter. Retail has slightly slowed down in the last month, although it is expected to recover, in part also due to higher wages in the public sector. The operating results of Slovene companies have been disclosed. They are the best in the last seven years and reflect both favourable export conditions and growth in the domestic market. Companies' write-offs and weakening have decreased. This is due to the fact that the real estate market has levelled out and numerous insolvency proceedings of large companies and holdings have been completed. The number of insolvent legal persons has fallen by a sixth. This economic recovery could also have been due to the fact that many companies faced bankruptcy, decreasing the aggregate indebtedness of the economy and improving the liquidity, indebtedness and productivity indicators. Companies’ revenues from sales have increased by 2.9%, or 3.4% in real terms due to an inflation rate of 0.5%. Export earnings have gone up by as much as 7.7%, whereas they have been stable in the domestic market. The share of sales in foreign markets has reached a record high of 38.4%. Exports to the EU markets have showed a particularly positive development with an increase of 9.6%. Meanwhile, exports to non-EU markets have gone up by 2%.

Below you will find some statistical data for Slovenia.


Growth rates in % – in comparison to the same period in the previous year

Latest data

GDP – real growth


4th quarter 2015

Consumer prices (HICP)


Jan.-April 2016

Exports of goods


Jan.-March 2016

Imports of goods


Jan.-March 2016

Industrial production (manufacturing)


Jan.-March 2016

Retail sales (real), w/o motor vehicles


Jan.-March 2016

Construction (real)


Jan.-Feb 2016

Exchange rate EUR/USD


Apr 2016

Gasoline, unleaded, 95-oct. (€/litre)


Valid from May 15, 2016




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