Outstanding economic growth—will labour shortage stop it?
After independence in 1991 Slovenia decided to go for a gradual transition of the economic system, unlike in other countries of the region. The main reasons for following such a strategy were the early introduction of some economic reforms in the end of the 1980s when Slovenia was still part of Yugoslavia, the country’s relatively high level of development, and the rather painless separation from Yugoslavia when compared to other successor states. This relatively smooth transition enabled Slovenia to avoid major shocks and to benefit from a steady growth.
Slovenia became the first former Yugoslav republic to obtain the EU membership in 2004 and was the first of all the EU’s new member states to join the euro currency in 2007. While in the early 1990s the per capita income was 50% of the EU average it now reaches almost 90%. Continue reading
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