May 22 (SeeNews) - The European Commission said on Monday Slovenia needs to pursue its fiscal policy in line with the requirements of the preventive arm of the Stability and Growth Pact (SGP).
When taking policy action, Slovenia must achieve a fiscal stance that contributes to both strengthening the ongoing recovery and ensuring the sustainability of it’s public finances, the Commission said in its recommendations to the Council, part of the European Semester Spring Package.
The Stability and Growth Pact is an agreement between the 16 countries that form the European Union and use the euro as their currency. Under this pact, each spring, Slovenia submits a stability programme which presents an update of the medium-term fiscal strategy.
Besides fiscal recommendations, the Commission said Slovenia should take action towards adopting and implementing the proposed reform of the healthcare system and the planned reform of long-term care, increasing cost-effectiveness, accessibility and quality care.
It should also make advances towards fully tapping the potential of centralised procurement in the health sector, and adopting the necessary measures to ensure the long-term sustainability and adequacy of the pension system.
Additionally, the EU executive body said that Slovenia should intensify efforts to increase the employability of low-skilled and older workers, particularly through targeted lifelong learning and activation measures.
Other recommendations include improvements to financing conditions, the full implementation of the bank asset management company strategy, as well as ensuring good governance of state-owned enterprises.