Government adopts report on implementation of Capital Market Development Strategy

Today, the Government adopted the Report of the Ministry of Finance on the implementation of the measures set out in the Strategy for the Development of the Capital Market in Slovenia 2023–2030. The activities carried out so far include the first issue of government bonds for natural persons.

In March 2023, the Government adopted the Capital Market Development Strategy 2023–2030, which contains concrete measures to strengthen and develop the Slovenian capital market. The report adopted today details the progress made in implementing the actions foreseen last year and, for the sake of completeness, also presents the activities carried out at the beginning of 2024. The report also includes plans to continue activities this year.

Among the activities carried out so far, we can highlight the first issue of government bonds exclusively for natural persons, totalling EUR 250 million. The aim of this issue was, among other things, to stimulate citizens' interest in investing in securities on the capital market and to strengthen the financial literacy of the population.

With the aim of achieving developing market status, a working group has been set up to analyse the fulfilment of the criteria of the different index providers. It has found that while Slovenia largely meets the qualitative requirements, it does not meet the quantitative criteria. The activities of the working group are continuing towards the preparation of draft actions and an action plan.

A working group has been also set up in the area of creating a start-up market for SMEs, which last year produced four expert documents: a feasibility study, an integrity study, a legal analysis and an analysis of the technical bases. An action plan is envisaged to be prepared in the first half of this year.

We have also carried out an analysis of the regulation of individual financial accounts for financial instruments (IFAFIs) in EU Member States and the UK, on the basis of which we have prepared a draft basis for the implementation of IFAFIs in Slovenia. The draft is being supplemented.

A single entry point has been also established on the websites of the Securities Market Agency, the Ljubljana Stock Exchange and the Central Clearing and Depository Company to facilitate access to information on capital market entry.

This year, activities in the area of capital market development will focus on the concretisation of measures through the preparation of legislative proposals and further steps in the Action Plans to achieve the strategic objectives of strengthening the Slovenian capital market.

Source: Ministry of Finance

Amendments to Decree on agricultural-environmental-climatic measures and payments for naturally and otherwise specifically less favoured areas pursuant to the Rural Development Programme of the Republic of Slovenia 2014–2020

The Government issued the Decree amending the Decree on agricultural-environmental-climatic measures and payments for naturally and otherwise specifically less favoured areas pursuant to the Rural Development Programme of the Republic of Slovenia (RDP RS) 2014–2020

The Decree amending the Decree on agricultural-environmental-climatic measures and payments for naturally and otherwise specifically less favoured areas pursuant to the Rural Development Programme of the Republic of Slovenia (RDP RS) 2014–2020 is amended in the part referring to the increase in financial resources earmarked for the 2023 payment of commitments for the measure of payments for naturally and otherwise specifically less favoured areas.

Under the current Decree, a total of EUR 48 million is available for the measure of payments for naturally and otherwise specifically less favoured areas for 2023, while EUR 51 million had to be made available for all payments. The difference between the planned and the needed funds is due to the implementation of the new model for scoring the difficulty of farming in less favoured areas and the new formula for calculating the payment in 2023. Both affect the calculation of the payment. These new developments, notwithstanding the previous simulations carried out, have led to a slight increase in the need for resources.

Source: Ministry of Agriculture, Forestry and Food