LJUBLJANA: Slovenia's public debt is expected to rise to about 50.1 percent of gross domestic product (GDP) this year from 47.6 percent in 2011, Finance Minister Janez Sustersic said in an interview published in daily Delo on Saturday.
"We do not have the final estimate for 2012 yet but it is probable that the debt will be around 17.848 billion euros ($23.35 billion) or 50.1 percent of GDP (versus 16.954 billion in 2011)," Sustersic said, giving no further details.
Slovenia's debt has more than doubled since 2008, when it amounted to 21.9 percent of GDP, as the country was badly hit by the euro zone financial crisis due to its dependency on exports. Slovenia adopted the euro in 2007.
The parliament is expected, by early May, to enforce austerity measures that will reduce the budget deficit to about 3.5 percent of GDP in 2012 from 6.4 percent last year. The measures include a 7.5 percent cut in public sector wages.
Public sector trade unions are planning a strike against the measures on Wednesday which will close schools and many public offices.
The government expects the economy to contract by 0.9 percent this year amid lower export demand and poor domestic spending after a contraction of 0.2 percent in 2011.
Sustersic had said Slovenia hopes to issue two bonds this year although the first issue in the value of 1.5 billion euros, which was expected last week, was postponed because the yield demanded was 5 percent or more.
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