www.fs-rs.si / News / News / Public Finance and Macroeconomic Developments, July 2023
Published: 07/13/2023

Public Finance and Macroeconomic Developments, July 2023

In the first half of this year, the fiscal situation deteriorated slightly, which is mostly related to high inflation. Its initial positive impact on revenue, which was noticeable last year, has gradually faded and with a certain delay the pressure on expenditure increased, as expected. The direct impact of intervention measures has been slightly less than in the same period last year, although it is still considerable. The negative effect of measures to alleviate the cost-of-living crisis, which are focused on the business sector this year, has been increasing. The relative indebtedness of the general government continues to gradually reduce, mostly due to high inflation, although it remains higher than before the epidemic. Considering the more adverse fiscal trends forecasted for this year compared to the EU average and the uncertainty regarding the effect of further measures, the risk of a more pronounced tightening of financing conditions is increasing, although, for now, it is also limited by a large liquidity reserve. Many adopted and announced discretionary measures are a continuation of the unsuitable past approach with no positive consequences for fiscal sustainability.

© Fiscal Council 2017 - 2024

We use cookies. - Find out more about cookies.

Name Purpose Expiry
pll_language The cookies remember user’s language selection. 1 year
TS(...) Web server hosting web pages of Fiscal Council (i.e. server of the Ministry of Finance) for its full functionality offers to users a session cookie, which for providing its full functionality offers a session cookie (to users) which name starts by TS and continues by arbitrary hexadecimal value [0-f], i.e. ‘TS015ff37’ necessary to ensure appropriate service level. Session