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  • The end of transitional depression in Slovenia
    Žižmond, Egon
    After 1990, when Slovenia undertook the parth of complete political and economic transition, the economic events followed a typical transition schedule, which was evident also in some other (more ... successful) post-socialist economies. In the first phase after market reforms and stabilization policy were introduced, their immediate economic consquences were predominantly negative. In the second phase, which in Slovenia began in the middle of 1993, the positive effects of ma croeconomic stabilization, reforms on microeconomic level and restructuring appeared step by step. 1993 was the year in which the main reasons for transitional depression were abolished: after five consecutive years of decline. GDP finally increased by 1.3 %. In the second half of 1993 (that is two years after the independence was declared) the production in Slovenia namely started to grow again due to the growth of both export (significant surplus in current account) and domestic demand (under the influence of real wage increase). As the economy was under-utilized and inflationary expectations almost extiguished, the increase in demand could be transformed into production growth. In 1994, the expansion continued. From August 1993 (when the lowest level was achieved) to August 1994 the production in manufacturing grew by 6.3 %. Also other economicactivities' growth was positive and surplus in the current account (also in trade lanace) was achieved. Such a revival of activity, relatively favourable expectations at home, and improvement in the economic situation in Europe lead to the prediction that an increase of GDP in 1994 by at least 5 % can be achieved (in the second quarter of 1994 real GDP grew on an annual level of 6.3 %).
    Type of material - research report ; adult, serious
    Publication and manufacture - Maribor : School of Business and Economics, Institute for Economic Diagnosis and Prognosis, 1994
    Language - english
    COBISS.SI-ID - 47503616

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