Creative Industries Slovenia
Population: 1,988,292 (July 2014 est.)
Internet country code: .si
three equal horizontal bands of white (top), blue, and red, derive from the medieval coat of arms of the Duchy of Carniola; the Slovenian seal (a shield with the image of Triglav, Slovenia’s highest peak, in white against a blue background at the center; beneath it are two wavy blue lines depicting seas and rivers, and above it are three six-pointed stars arranged in an inverted triangle, which are taken from the coat of arms of the Counts of Celje, the great Slovene dynastic house of the late 14th and early 15th centuries) appears in the upper hoist side of the flag centered on the white and blue bands
Republic of Slovenia / Republika Slovenija
The Slovene lands were part of the Austro-Hungarian Empire until the latter’s dissolution at the end of World War I. In 1918, the Slovenes joined the Serbs and Croats in forming a new multinational state, which was named Yugoslavia in 1929. After World War II, Slovenia became a republic of the renewed Yugoslavia, which though communist, distanced itself from Moscow’s rule. Dissatisfied with the exercise of power by the majority Serbs, the Slovenes succeeded in establishing their independence in 1991 after a short 10-day war. Historical ties to Western Europe, a strong economy, and a stable democracy have assisted in Slovenia’s transformation to a modern state. Slovenia acceded to both NATO and the EU in the spring of 2004; it joined the eurozone in 2007.
With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe. Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Yield-seeking bond investors’ strong demand for Slovenian debt helped the government in 2013 to continue to finance itself independently on international markets. The government has embarked on a program of state asset sales intended to bolster investor confidence in the economy, which in 2014 is poised to contract 1%, its third-year of recession.
GDP (purchasing power parity):
$57.36 billion (2013 est.)
country comparison to the world: 93
$58.03 billion (2012 est.)
$59.52 billion (2011 est.)
note: data are in 2013 US dollars