OECD urges Slovenia to curb inflation, introduce reforms

LJUBLJANA -The Organisation for Economic Co-operation and Development (OECD) urged Slovenia to curb inflation and introduce reforms in a report released on Monday. “Slovenia should focus on reining in inflation and then accelerating reforms to bolster productivity and foster stronger and more sustainable growth for the longer term,” the OECD said on its website. “Slovenia’s harmonised consumer price year-on-year inflation jumped to 10.8 percent in June, up from 8.7 percent in May and 1.7 percent in June 2021, reaching the highest level in over 20 years,” the country’s Statistical Office reported last week. Inflation was pushed up mainly by a jump of global energy prices, with gas prices in Slovenia up by 49.4 percent, heat energy prices by 43.6 percent and electricity prices by 29.4 percent over the past year, according to the Statistical Office. The OECD also said Slovenia needs stronger productivity growth and has to strengthen its pension system in order to keep raising living standards in spite of an ageing workforce.

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