In the spring forecast published today, the European Commission has enhanced the economic growth forecast for Slovenia. This year, it is expected to reach 1.2 per cent, and 2.2 per cent in 2024. The enhanced forecast is an encouraging signal; we are also pleased that currently there is no fear of a recession in Europe.

At today’s event on the Recovery and Resilience Plan – Implementation, New Circumstances and Amendments, which was hosted by the Ministry of Finance and the Recovery and Resilience Office, representatives of ministries presented the implementation of the Recovery and Resilience Plan and the proposed amendments to interested stakeholders and the public. The event was also attended by the Minister of Finance Mr Klemen Boštjančič.

On 5 May 2023, the Fitch agency affirmed Slovenia's A credit rating with a stable outlook.

Following the European Commission’s preliminary positive assessment of the first payment request for a grant from the Recovery and Resilience Facility in early March, Slovenia has today received a transfer of just under €50 million. “The relevant European institutions have positively assessed the fulfilment of all 12 milestones linked to the first instalment of the grant. The Ministry of Finance, together with the Recovery and Resilience Office, will continue to closely monitor the implementation of the plan and the achievement of the milestones and targets, which are a condition for the payment of the funds from Brussels,” emphasised Finance Minister Klemen Boštjančič.

The Ministry of Finance Delegation, headed by Finance Minister Klemen Boštjančič, attended the Spring Meetings of the World Bank Group and the International Monetary Fund, held between 11 April and 15 April 2023 in Washington. In the discussions, considerable importance was attached to economic growth, inflation and financial stability.

The amendment to the Fiscal Verification of Invoices Act, which is being adopted by the National Assembly today, is aimed at addressing both the control of the shadow economy and the protection of the rights of customers. In the light of protecting the environment and the green transition, we advocate e-receipts wherever possible. We emphasise that the purpose of re-introducing the fine for customers is primarily to raise awareness that the receipt must be accepted.

The Government has adopted a basis for the preparation of a proposal for amendments to the Recovery and Resilience Plan to address the reduction in available funding and the objectives of the REPowerEU plan to reduce dependence on Russian energy. It will be followed by coordination with the European Commission and other stakeholders and the preparation of a proposal to adapt the plan.

The Ministry of Finance has conducted an analysis and completed the groundwork for tax system reorganisation in order to make it more transparent, simple and balanced. We also wish to raise awareness about the need for a new social consensus regarding the reform package and the level of prosperity we are aiming for.

The European Commission has given a preliminary positive assessment of the first payment request for European funding for recovery and resilience. "We have been eagerly awaiting the news that was announced today by Commissioner Gentiloni. I am very pleased that the Commission has given the green light to our first payment request for the Recovery and Resilience Facility," said the Minister of Finance Klemen Boštjančič at a press conference.

The Ministry of Finance of the Republic of Slovenia and the Representation of the European Commission in Slovenia are organising an event EU Economic governance framework reform – finding consensus to ensure sustainability and growth.

Today, on 28 February 2023, the settlement of the liability management transaction, executed on 21 February 2023, took place which consisted of an additional issue of RS85 bonds in the value of EUR 200 million and buying back of RS83 and RS66 bonds.

On the 21st of February 2023, the Republic of Slovenia, rated A3 (stable)/A (stable)/AA- (stable) reopened its 0.4875% October 2050 (Oct-50) by €200mn. The new issue size totalled €1.85bn after reopening.

The Republic of Slovenia announces the cash tender results of the Euro denominated notes of the tender that expired on 20 February 2023.

The Republic of Slovenia, rated A3 (stable) / AA-(stable) / A (stable), has this morning mandated Barclays, BNP Paribas, Deutsche Bank and Erste Group to lead manage a reopening of the SLOREP benchmark due in October 2050. The transaction will be Regulation S in dematerialized registered form.

Announcement of the Republic of Slovenia Cash Tender Offer on EUR denominated Notes

According to preliminary data, the state budget recorded approximately EUR 12.3 billion in revenue in 2022, an increase of just under EUR 1.2 billion, or 10.5%, compared to 2021. Expenditure reached around EUR 13.7 billion, down by EUR 544 million or 3.8% compared to the previous year, while the state budget deficit was just under EUR 1.4 billion.

On Wednesday, 4th January 2023, the Republic of Slovenia, rated A3 (stable) /AA- (stable) /A (stable), successfully entered the markets with a EUR 1.25bn 10-year Reg S Sustainable bond alongside a EUR 250mm tap of the outstanding 3.125 percent bonds due 7 August 2045. This landmark transaction, which included the second and largest Sustainable bond out by Slovenia, makes the Republic of Slovenia the first Sovereign in the region to enter the markets in 2023.

The Republic of Slovenia (the Issuer), rated A3 (stable) / AA- (stable) / A (stable), has mandated BNP Paribas, Citi, Deutsche Bank, Erste Group, Nova KBM and UniCredit as Joint Lead Managers to arrange a Global Investor Call and a series of investor meetings to present the Issuer’s updated Sustainability Bond Framework. BNP Paribas acted as sole sustainability structuring advisor.

Rating agencies S&P and DBRS Morningstar confirmed Slovenia’s credit rating yesterday. S&P confirmed the AA- rating with a stable outlook, while DBRS Morningstar confirmed the A (high) rating, again with a stable outlook. Considering that in recent months rating agencies have downgraded the outlooks for some European countries, the confirmation of the outlook and ratings for Slovenia is proof that it is a solid and trustworthy country.

Speaking at the press conference after the conclusion of the annual IMF Mission to Slovenia’s consultations, Minister Klemen Boštjančič expressed his agreement with its findings.