OECD Urges Slovenia To Curb Inflation, Introduce Reforms
Fahad Shabbir (@FahadShabbir) Published July 05, 2022 | 01:40 PM
LJUBLJANA, Jul 5 (UrduPoint / Pakistan Point News - 5th Jul, 2022 ) :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. It advised the country to undertake reforms that would build a more digital, sustainable and productive economy.
It forecasted Slovenia's gross domestic product (GDP) growth at 4.6 percent this year and 2.5 percent in 2023, down from 8.1 percent last year.
Slovenia is an export-oriented economy which sells most of its products to other European Union states. Its main exports include cars, car parts, pharmaceutical products and household appliances.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
More Stories From Miscellaneous
-
PDMA predicts gusty wind, rain with thunder, hails
2 days ago -
Iranian president Raisi given guard of honour at PM House
3 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
4 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
4 days ago -
Cattle farming vital to alleviate poverty in rural areas
4 days ago -
Pakistan: A land of tourism, archeological wonders
4 days ago
-
Transforming education sector: from job hunters to job creators
6 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
10 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
11 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
11 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
14 days ago -
Radio Bahawalpur to broadcast Eid programs
16 days ago