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Minister Boštjančič attends meeting of the Organisation for Economic Cooperation and Development

Minister of Finance Klemen Boštjančič attended the Ministerial Council Meeting of the Organisation for Economic Cooperation and Development (OECD) in Paris. Ministers discussed the current challenges facing countries and possible approaches to address them with a view to achieving sustainable and inclusive economic growth.
The Minister and the Deputy Secretary-General shaking hands on arrival at the meeting

Minister Boštjančič and Deputy Secretary-General of the Organisation for Economic Co-operation and Development, Yoshiki Takeuchi | Author Ministry of Finance

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The annual OECD Ministerial Council provides an opportunity for countries to share their views on the current global situation and their experiences in addressing challenges in various areas. The current focus is on issues related to climate change, digitalisation, the impact of ageing societies on countries’ economic and social situations, and increasingly on security and artificial intelligence.

During the two-day meeting, which ends today, Mr Boštjančič took part in discussions on various aspects of sustainable growth, with stress on demographic challenges, science and innovation, climate change and environmental issues. These issues transcend national borders and countries need to work together to develop the most effective measures possible, the Minister said. He also considers it important that countries be able to identify priorities and key actions to address them.

The Minister recalled that ageing populations are a major challenge for many countries, including Slovenia, which is therefore striving to adopt measures that would contribute to both the sustainability of public finances and the preservation of social well-being. It is healthy public finances that make investments possible and boost economic growth. Innovation, the promotion of digitalisation and a well-functioning labour market are also contributing factors, he added.

He also highlighted the green transition and climate change, which Slovenia felt acutely when affected by last year's catastrophic floods. That is why the country is also devoting plenty of attention to the transition to a greener economy, and the efforts of various stakeholders, including not only the state but also the economy and each individual, will be important, the Minister added.

He also took part in the debate on artificial intelligence and recalled that Slovenia is very active in this field. This year, the Ministry of Digital Transformation hosted the Global Forum on the Ethics in Artificial Intelligence under the auspices of the United Nations Educational, Scientific and Cultural Organisation. Although artificial intelligence can help us address various challenges, it is also important to be aware of the risks inherent in its use and to strengthen citizens’ digital literacy, the Minister said.

On the sidelines of the meeting, he also held talks with representatives of the delegations of Canada and Costa Rica, and the OECD published its new economic forecast. The outlook for global economic growth is better than previously forecast, and the organisation has also upgraded its forecast for Slovenia. This year’s economic growth is forecast at 2.3%, expected to accelerate to 2.7% next year, which is better than the OECD and euro area average.