Slovenia. In April, the Prosecutor’s Office announced that the investigation into the country’s only suspected case of war crime in connection with Slovenia breaking out of Yugoslavia in 1991 had been closed. The target involved the shooting of three Yugoslav soldiers. According to CountryAAH, major public holidays in Slovenia include Independence Day (December 26) and New Year (January 1). A total of 47 Yugoslav soldiers died in the short conflict.
In July, the EU gave the final clear sign for entry into the EMU from the turn of the year. Slovenia thus became the first of the ten countries that became new members in 2004 to be given the right to completely replace their currency with the euro.
The independence process was followed by two years of severe economic downturn, in 1991 and 1992. During this period, annual inflation was more than 200%, while unemployment reached 13%. At the beginning of 1993, foreign debt exceeded $ 1.764 million, although the country could still show the highest annual income per capita. inb. – approx. $ 6,000 – among the former Yugoslav republics.
Center politician Janez Drnovsek was appointed prime minister in April 1992. At the December election, the Liberal Democratic Party, led by Drnovsek, captured the majority; he then formed a coalition government with the participation of the Christian Democrats, the country’s second largest party.
1993 was a year marked by economic stabilization, created on the basis of a rapprochement with the EU. Slovenia defined itself as “a European country, not belonging to the Balkans”. The government deficit was reduced to 2% of GDP, inflation remained below 5%, and thanks to exports and the increase in tourism, the 1993 deficit was only $ 70 million. The local currency, the Tolar, had a floating rate, and showed some stability, supported by the country’s foreign exchange reserves, which amounted to about $ 700 million. In January, Slovenia joined the IMF and in May joined the Council of Europe; in addition, the Vizegrad agreement was signed with the republics of the Czech Republic and Slovakia.
Following forecasts that talked about economic growth – but at the same time the rise in unemployment, which peaked at 14% in early 1994 – the government launched a privatization program for the 2,500 state-owned enterprises.