Business News

German Companies Believe Economic Situation in Slovenia Bad

Ljubljana, 05 April (STA) - Nearly three-quarters of German companies polled by the Slovenian-German Chamber of Commerce and Industry said that the economic situation in Slovenia was bad and over half forecast a further deterioration for this year. Despite the prevailing situation, German companies are generally happy with their investments in Slovenia.

While 73% of the companies believe that the situation is bad, the remaining participants said that the situation was satisfactory. Nevertheless, 40% of the companies ranked their position on the Slovenian market as good and 51% as satisfactory.

As many as 54% of the companies included in the survey said that the economic situation in Slovenia would worsen this year, while 36% said it would remain unchanged and only 10% expected an improvement.

The participating companies were cautious about about revenue forecasts for this year, with 39% expecting revenues to rise, 40% expecting them to remain flat and 21% expecting a fall in revenues.

While also remaining cautious regarding hiring, as many as 30% of the participating companies expect to expand their workforce this year. Meanwhile, around 25% said they expected to have to make lay-offs.

The companies are satisfied with their investments in Slovenia in general, ranking the country only behind Germany and Austria among 25 central and eastern European countries.

The Slovenian-German Chamber of Commerce and Industry has been following the development of the Slovenian investment environment and the satisfaction of German investors since 2006.

This year's survey was conducted among 572 German companies investing in Slovenia, which generated a total of EUR 1.096bn in turnover in 2011.

Over half of the companies (56%) were either medium or large enterprises, with around a third active in manufacturing and 42% in commerce.

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