News in Brief Spring 2017

Improved growth forecasts

The latest forecast of the Slovenian government’s macroeconomic institute IMAD published in spring projects a 3.6% growth for the Slovenian economy in 2017 - a brighter forecast compared to previous years. In the next two years, the annual growth of the GDP is projected at 3 percent. Employment rates are also projected to increase. The International Monetary Fund (IMF) published similar projections after its regular official visit in late March. The IMF expects that Slovenian GDP will grow by 3 percent this year - a substantial increase over the previously projected 1.8 percent. “Slovenia is enjoying a fourth consecutive year of steady economic growth, that has lifted wages and employment. Financial stability has improved and the country’s external position has strengthened,” stresses Nikolay Kirov Gueorguiev, the head of the IMF’s mission to Slovenia, adding however that challenges still remain: relatively high public debt and unfavorable demographics.

A second railway track will speed up Port of Koper’s services

In late March Slovenian government adopted the draft act on the construction, management and governance of the second track of the Koper - Divača railway line. The act is empowering 2DK - a company set up by the government - to seek finances and new partners. The second track is essential for the further development of the Port of Koper as one of the leading logistics hubs of Central Europe. According to press Hungary has expressed serious interest to participate in the project.

Novartis’ largest investment in Slovenia

Lek, a Slovenian subsidiary of international pharmaceutical group Novartis, has started to build a new antibiotics plant in Prevalje, a small town in Slovenian Carinthia. The new plant will increase Lek’s capacity to produce Amoksiklav antibiotics from 600 million to 1.5 billion units every year. The new plant will be completed by 2023 and will employ 150 people. The total investment of 105 million euros represents the largest single investment of Novartis in Slovenia so far. Overall, Novartis has invested over 1.9 billion euros in its Slovenian facilities since 2003. Over 1 billion euros were invested in research and development and the rest in the increase of manufacturing capacities. 

Kolektor purchased German CONTTEK group

Idrija based technological company Kolektor has signed the agreement on the purchase of German group CONTTEK, a global player in the field of precision stamping, injection molding, overmolding and assembly of high-precision metal-plastic composite parts for the automotive industry. CONNTEK also owns Czech company Tesla Jihlava. The group employs 500 people and makes around 50 million euros in revenues. Through the acquisition Kolektor will be able to become one of the leading producers of hybrid components for the automotive industry in Europe. The company’s speakers also expressed intent to further grow through acquisitions and reach 1 billion euros in sales by 2022.

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