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Slovenia: governor, recovery, but not yet sustainable growth
Anyway, the situation has improved
14 December, 12:56 (ANSA) - LJUBLJANA, DEC. 14 - According to Slovenia's central
bank governor Bostjan Jazbec, the country's economic outlook has
improved, but the material conditions for sustainable growth are
not yet complete. One of the main reasons for this situation are
bad loans, which Slovenian banks have not yet sold out, despite
the 3 billion injection that the state provided to the banking
system two years ago.
''Bad loans are the main cause of the persistent credit crunch and of the impossibility of a full recovery of Slovenia's economy'', Jazbec underlined. According to Slovenia's central bank governor, ''the expansionary monetary policy based on quantitative easing, which has been put in place by the ECB, is not a magic wand and can't solve all the problems of our country''; instead, we should ''find a systemic solution based on structural reforms of the tax system and an improvement in banks' balance sheets''.(ANSA).
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''Bad loans are the main cause of the persistent credit crunch and of the impossibility of a full recovery of Slovenia's economy'', Jazbec underlined. According to Slovenia's central bank governor, ''the expansionary monetary policy based on quantitative easing, which has been put in place by the ECB, is not a magic wand and can't solve all the problems of our country''; instead, we should ''find a systemic solution based on structural reforms of the tax system and an improvement in banks' balance sheets''.(ANSA).