Finance Minister Dušan Mramor happy: Slovenia is ready to leave the excess deficit procedure after seven years; the hard work has paid off

Finance Minister Dušan Mramor said he was happy with the assessment by the European Commission that Slovenia was ready to leave the excess deficit procedure after seven years, but stressed efforts to reduce debt and bolster economic growth must continue. “The hard work has paid off, but there is no rest until 2020: we must focus on ensuring maximum growth,” Mramor told a press conference in Ljubljana on Thursday. He said Slovenia had defied projections from abroad by reducing its general government deficit to below 3% of GDP last year.

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General government deficit at 2.6% of GDP in first nine months 2015

Slovenia’s general government deficit reached EUR 743m in the first nine months of the year, or 2.6% of the country’s Gross Domestic Product (GDP), the Statistics Office announced in December 2015. The deficit in the January-September period is considerably lower than in the same period last year (EUR 1.06bn or 3.9% of GDP) and below the government target of 3% of GDP.

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