Programme

Economic growth in Slovenia is slowing, with forecasts for 2026 falling below 2%. Is growth now being driven primarily by domestic factors – consumption, wages, public investment and certain sectors? How serious are the risks stemming from both the global and domestic economy, including weak external demand, dependence on a small number of economies, persistent uncertainty, high energy and labour costs, low investment, labour shortages and declining competitiveness?

What are companies expecting, and what distinguishes more successful companies and sectors from those that are falling behind? Which types of companies and sectors continue to outperform, and which are increasingly lagging behind, even compared with the Slovenian average? What role do businesses expect the government to play?

What do the latest data tell us – and how do business leaders see the outlook?

Slovenia faces a challenge shared across the European economy: compared to the US and China, the EU invests significantly less than necessary—both in machinery and buildings as well as in research, software, and knowledge. Students of the international master’s program IMB will present the results of a study that highlights investments on three levels. At the macroeconomic level, it analyzes investment activity in the EU, the US, and China over the 2000–2025 period; at the industry level, it compares investments in selected manufacturing and service sectors between Slovenia and other EU countries; and at the firm level, it compares access to financial sources in Slovenia with other euro area countries. Based on survey data from Slovenian firms, the study then empirically analyzes their investment activity, motives and obstacles to investing, the extent of green investments, and the adoption of new technologies, which represent an important part of corporate investments. Case studies of companies such as Better, Terme Olimia, Paloma, and BYD demonstrate how successful businesses combine investments in tangible and intangible capital to enhance their market competitiveness.

Slovenians now hold EUR 30 billion in bank savings, most of it in sight deposits earning very low or no interest. When asked why, people often point to negative experiences with investing in Slovenia in the past. But those events took place some twenty years ago, and today even the average Slovenian has access to securities from around the world at very low cost. Past experience with the domestic market can therefore hardly be the main reason.

A more likely explanation is that Slovenians tend to rely on the state to provide for them, both today and after retirement. What many overlook, however, is that their purchasing power could decline significantly if they rely solely on the state pension. Similarly, the data suggest that Slovenians are generally underinsured, perhaps with the exception of car insurance.

My aim is to encourage people to think more carefully about their own financial future. For some, keeping money in a bank deposit will still be the optimal solution. For many others, however, accepting a somewhat higher level of risk opens up considerably better alternatives. These may include investment funds, including ETFs, individual securities, including through individual investment accounts (INR), supplementary voluntary pension insurance, or other forms of investment.