Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Slovenia Plans Wealth Fund to Streamline State-Asset Management

May 29 (Bloomberg) -- Slovenia plans to create a sovereign-wealth fund by merging agencies that are managing state assets to boost revenue from their investments.

“The aim is to streamline the management of state assets and make them more efficient,” Finance Minister Janez Sustersic told reporters in Ljubljana today. “We will later decide which are just portfolio investments, which are strategic and we want to keep and which companies will be sold.”

The fund will report to the lawmakers while profits will be used to finance pensions and the budget, Sustersic said. The plan is to merge five different agencies with total assets estimated at more than 10 billion euros ($12.54 billion), Finance newspaper reported yesterday.

Slovenia, the first post-communist nation to adopt the euro in 2007, wants to earn more from state-owned companies as it seeks to reduce budget spending and enact the so-called fiscal compact inspired by Germany.

Slovenia’s export-driven economy is in its second recession in three years and is forecast to shrink 2 percent this year, according to the European Bank for Reconstruction and Development and the Organization of Economic Cooperation and Development.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.