Development Report 2017 Development 2010 Report
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development report 2010 development development report 2010 development report 2017 development report 2010 development development report 2010 Development Report 2017 ISSN 1581-6907 (print) ISSN 2464-0506 (pdf) Ljubljana, June 2017 Published by: IMAD, Ljubljana, Gregorčičeva 27 Responsible Person: Boštjan Vasle, MSc, Director Editor: Rotija Kmet Zupančič, MSc Assistant Editor: Matevž Hribernik, MSc Authors of the Development Report 2017: Marijana Bednaš, MSc, Jure Brložnik, Tanja Čelebič, MSc, Aleš Delakorda, MSc, Janez Dodič, Lejla Fajić, Barbara Bratuž Ferk, MSc, Marko Glažar, PhD, Marjan Hafner, MSc, Matevž Hribernik, MSc, Slavica Jurančič, Alenka Kajzer, PhD, Rotija Kmet Zupančič, MSc, Mojca Koprivnikar Šušteršič, Mateja Kovač, MSc, Valerija Korošec, PhD, Janez Kušar, MSc, Urška Lušina, Jože Markič, PhD, Helena Mervic, Ana Murn, PhD, Tina Nenadič, MSc, Janja Pečar, Mitja Perko, Jure Povšnar, Matija Rojec, PhD, Urška Sodja, Metka Stare, PhD, Dragica Šuc, MSc, Branka Tavčar, Ana Tršelič Selan, MSc, Ana Vidrih, MSc, Eva Zver, MSc. Editorial board: Marijana Bednaš, MSc, Jure Brložnik, Aleš Delakorda, MSc, Lejla Fajić, Matevž Hribernik, MSc, Alenka Kajzer, PhD, Mateja Kovač, MSc, Janez Kušar, MSc, Metka Stare, PhD, Boštjan Vasle, MSc. Translation: Translation and Interpretation Division of the Secretariat-General of the Government of the RS, Marija Kavčič Language Editing: Amidas d.o.o. DTP: Ema Bertina Kopitar, Bibijana Cirman Naglič Figures: Bibijana Cirman Naglič Print: Eurograf d.o.o. Circulation: 95 copies © The contents of this publication may be reproduced in whole or in part provided that the source is acknowledged. Development report 2017 3 Table of contents Table of contents Introductory remarks.................................................................................................................. 7 Summary .................. .................................................................................................................... 8 1 The macroeconomic framework .......................................................................................... 11 1.1 Macroeconomic stability and economic growth ............................................................................. 11 1.2 Stability and quality of public finances ............................................................................................. 13 1.3 Financial system and corporate sector indebtedness .................................................................... 15 1.3.1 The situation regarding the financial system ................................................................................................15 1.3.2 Indebtedness of the corporate sector .............................................................................................................17 2 Factors of competitiveness ................................................................................................... 18 2.1 Competitiveness of the corporate sector .......................................................................................... 18 2.2 Human Capital ........................................................................................................................................ 22 2.3 Innovation capacity ............................................................................................................................... 24 2.4 The role of the state and its institutions ............................................................................................ 25 2.4.1 The withdrawal of the state from the economy.............................................................................................26 2.4.2 The functioning of public administration and the judiciary ........................................................................27 3 The labour market and welfare state .................................................................................. 28 3.1 The labour market .................................................................................................................................. 28 3.2 Social protection systems and their long-term sustainability ...................................................... 32 3.3 Quality of life and social inclusion ...................................................................................................... 33 3.3.1 Material living conditions ................................................................................................................................33 3.3.2 Factors for the quality of life ............................................................................................................................36 4 Environmental, regional and spatial development ......................................................... 38 4.1 Environmental development ............................................................................................................... 38 4.1.1 Natural resources and natural resource management ................................................................................38 4.1.2 Selected environmental measures ..................................................................................................................42 4.2 Regional development.......................................................................................................................... 43 4.3 Sustainable spatial development ....................................................................................................... 45 Appendix - Indicators of Slovenia’s development............................................................... 47 1 Macroeconomic framework ................................................................................................. 49 1.1 Real GDP growth .................................................................................................................................... 51 1.2 Inflation .................................................................................................................................................... 52 1.3 Current account of the balance of payments ................................................................................... 53 1.4 Gross external debt ............................................................................................................................... 54 1.5 Net international investment position .............................................................................................. 55 1.6 General government balance .............................................................................................................. 56 1.7 General government debt .................................................................................................................... 57 1.8 Yield on 10-year government bonds .................................................................................................. 58 1.9 Taxes and social security contributions ............................................................................................. 59 1.10 The tax burden by economic function ............................................................................................. 60 1.11 State aid ................................................................................................................................................. 61 1.12 Financial sector development ........................................................................................................... 62 1.13 Loan-to-deposit ratio .......................................................................................................................... 63 1.14 Non-performing claims ...................................................................................................................... 64 1.15 Indebtedness of the corporate sector ............................................................................................. 65 4 Development report 2017 Table of contents 2 Factors of competitiveness ................................................................................................... 67 2.1 GDP per capita in purchasing power standards .............................................................................. 69 2.2 Market share ........................................................................................................................................... 70 2.3 Unit labour costs .................................................................................................................................... 71 2.4 Labour productivity ............................................................................................................................... 72 2.5 Structure of merchandise exports by factor intensity .................................................................... 73 2.6 Knowledge-intensive market services ............................................................................................... 74 2.7 Network industries ................................................................................................................................ 75 2.8 Foreign direct investment .................................................................................................................... 76 2.9 Entrepreneurial activity ........................................................................................................................ 77 2.10 Share of the population with tertiary education ..........................................................................