The visit is coordinated by the Slovenian Ministry of Finance. Officials from Brussels are scheduled to meet with representatives of six Slovenian ministries, with representatives of the Bank of Slovenia, as well as with representatives of the Institute for Macroeconomic Analysis and Development. Today is also the deadline for Slovenia to submit next year's budget documents to Brussels.

How can European countries recognize the key risks in time and prevent a new crisis? Brussels has had trouble answering this question for quite some time. In 2011 it introduced the European semester, a yearly cycle in which member states submit documentation and carry out measures in coordination with EU officials. It is the European Council, which consists of presidents of governments or states, that has the final word in issuing the recommendations and approving the measures.

Slovenia with the same recommendations for several years
Slovenia has been receiving the same recommendations for some years now. Together with Croatia and Italy, it is one of the most problematic countries in terms of macroeconomic imbalances. That means that the risks are accumulating. And if Slovenia has indeed eliminated the risks in the banking sector, it still hasn't dealt with all the remaining risks, which according to the European Commission prevent increased growth and employment. The country's labour market is still rigid, there are too many regulated professions, and economic competitiveness is sluggish. At the same time companies, and not only state companies, suffer from weak and inadequate management.

All the previous recommendations for Slovenia have basically said that the state has to let go of company ownership as much as possible. Not only because of the selling prices it would get, which would help reduce the public debt, but also because of the need for a better and more effective management. Brussels will be not be pleased with the further delay in adopting the code for corporate management in state-owned companies.

The structural reforms, of which there is still no sign
Slovenia is expected to carry out ambitious structural reforms. Among other things it has to introduce a new pension reform, more vocational education, a new bill on student work and changes to the minimum wage. Slovenia still hasn't implemented any of the above-mentioned reforms. In evaluating the progress, or standstill, the EU Commission will also take into consideration that this was an election year.
Today Slovenia's Ministry of Finance also has to submit to Brussels the budget proposal for 2015. We hope the proposed budget will reveal the government's plans for the public sector wage bill, and in what way everyone will have to give up a little something, as Finance Minister Dušan Mramor said a few days ago.