Editing Economy of Slovenia (section)

==History==
Although it comprised only about one-eleventh of [[Socialist Federal Republic of Yugoslavia|Yugoslavia]]'s total population, it was the most productive of the Yugoslav republics, accounting for one-fifth of its GDP and one-third of its exports.<ref>{{cite web|url=https://2009-2017.state.gov/r/pa/ei/bgn/3407.htm#econ|title=Background Note: Slovenia|access-date=4 May 2009}}</ref>
Slovenia thus gained independence in 1991 with an already relatively prosperous economy and strong market ties to the West.

Since that time it has vigorously pursued diversification of its trade with the West and integration into Western and transatlantic institutions. Slovenia is a founding member of the [[World Trade Organization]], joined [[CEFTA]] in 1996, and joined the [[European Union]] on 1 May 2004. In June 2004 it joined the [[European Exchange Rate Mechanism]]. The [[euro]] was introduced at the beginning of 2007 and circulated alongside the [[Slovenian tolar|tolar]] until 14 January 2007. Slovenia also participates in SECI ([[Southeast European Cooperation Initiative]]), as well as in the [[Central European Initiative]], the [[Royaumont Process]], and the [[Black Sea Economic Council]].

During the [[Great Recession]], the Slovenian economy suffered a severe setback. In 2009 the Slovenian [[GDP per capita]] shrank by 7.9%. After a slow recovery from the 2009 recession, thanks to exports,<ref>{{cite web |url=http://www.ebrd.com/pages/research/publications/flagships/transition/slovenia.shtml |title=Slovenia Country Assessment |publisher=European Bank for Reconstruction and Development |access-date=16 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120220205632/http://www.ebrd.com/pages/research/publications/flagships/transition/slovenia.shtml |archive-date=20 February 2012 |df=dmy-all }}</ref> the economy of Slovenia again slid into recession in the last quarter of 2011.<ref name="ST2012-03-13">{{cite news |url=http://www.sloveniatimes.com/double-dip-recession-is-the-%E2%80%98official%E2%80%99-reality |title=Double Dip Recession is the 'Slovenian' Reality |newspaper=The Slovenia Times |date=13 March 2012 |access-date=15 March 2012 |archive-date=8 February 2013 |archive-url=https://web.archive.org/web/20130208095317/http://www.sloveniatimes.com/double-dip-recession-is-the-%E2%80%98official%E2%80%99-reality |url-status=dead }}</ref> This has been attributed to the fall in domestic consumption and the slowdown in the growth of exports.<ref name="ST2012-03-13" /> Slovenia mainly exports to countries of the [[eurozone]].<ref name="VE2012-03-15" /> The reasons for the decrease in domestic consumption have been multiple: fiscal [[austerity]], the freeze in budget expenditure in the final months of 2011,<ref name="Bloomberg">{{cite news |url=https://www.bloomberg.com/news/2012-02-29/slovenia-s-economy-falls-in-recession-as-export-growth-weakens.html |title=Slovenia's Economy Falls Into a Recession as Exports Weaken |first=Boris |last=Cerni |date=29 February 2012 |work=Bloomberg}}</ref> a failure in the efforts to implement [[microeconomic reform|economic reforms]], inappropriate financing, and the decrease in exports.<ref name="RTV2012-02-29">{{cite news |url=http://www.rtvslo.si/gospodarstvo/zdrs-v-recesijo-so-ekonomisti-pricakovali/277878 |title=Zdrs v recesijo so ekonomisti pričakovali |language=sl |trans-title=The Slid into Recession Was Expected by Economists |newspaper=MMC RTV Slovenija |publisher=RTV Slovenija |issn=1581-372X |date=29 February 2012}}</ref> In addition, the construction industry was severely hit in 2010 and 2011.<ref name="ST2012-03-13" /> From 2014 onwards GDP of Slovenia is rising again.<ref>{{Cite web|url=https://www.stat.si/statweb|title=SURS|website=www.stat.si}}</ref> The main factors of GDP growth are export and in the year 2016 also domestic consumption, which started to revive after the economic crisis. The GDP growth in 2015 was 2.3%;<ref name="mf.gov.si" /> in the first half of 2016 it was 2.5%, and in the 2nd quarter of 2016 it was 2.7%.<ref>{{cite web|url=http://www.stat.si/StatWeb/prikazi-novico?id=6160&idp=1&headerbar=0|title=Bruto domači proizvod, Slovenija, 2. četrtletje 2016|website=www.stat.si}}</ref> This means that GDP growth accelerated in 2016.

During the EU accession negotiations, Slovenia insisted on numerous [[derogation]]s, refusing to open up certain key sectors of the economy to full competition. The country is the only one in Central and Eastern Europe to have retained control of its banking sector. The country has also preserved an important public service built during the socialist period: Slovenia still has one of the best healthcare systems in the world, and education is free up to the postgraduate level.<ref>{{Cite web|url=https://monde-diplomatique.de/artikel/!508829|title=Das slowenische Modell}}</ref>