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OECD Economic Surveys: Slovenia 2009

image of OECD Economic Surveys: Slovenia 2009

This 2009 edition of OECD's periodic survey of Slovenia's economy  includes chapters discussing restoring a sustainable growth path within the Monetary Union, restoring public finances on a sustainable path and improving efficiency, improving the functioning of the labour market, and enhancing the business environment to foster productivity growth.

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Improving the functioning of the labour market

Labour market outcomes have improved markedly in the past years as the beneficial effects of the economic upswing were reinforced by important structural reforms. With the economy on the verge of a severe economic downturn, it is important to avoid alleviating measures that adversely affect the functioning of the labour market in the long run. Moreover, several structural challenges remain which require further reform efforts. Firstly, to raise labour force participation of the elderly the pension system needs to be reformed by removing incentives for early retirement and facilitating gradual exits from the labour force. Secondly, to increase employment rates of younger age cohorts, the length of tertiary studies needs to be reduced by strengthening incentives for rapid graduation. Moreover, potential negative employment effects associated with the relatively high minimum wage compared to the average wage should be avoided. Thirdly, to combat increasing labour market dualism, employment protection legislation on regular work contracts needs to be eased once the current economic crisis subsides and the preferential treatment of student work should be phased out.

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