Slovenia

Although one of the youngest nations in the world, Slovenia has quickly established itself as an equal partner and example to other nations. Today, Slovenia is an example of economic success and a guarantee to the stability in a traditionally volatile Balkan region. Several driving factors contributed to Slovenia's economic growth in recent years. First, it has an exceptional infrastructure. Second, it is situated in a strategically important area between western and eastern Europe. Finally, Slovenia is home to a well-educated workforce. These factors allowed Slovenia to be the first 2004 European Union (EU) entrant to adopt the euro as its currency and to be the first transition country to advance from borrower to donor as a World Bank member.

Slovenia (Republika Slovenija) is situated in central Europe. It lies northeast of the Adriatic Sea and shares borders with Croatia to the south, Italy to the west, Austria to the north, and Hungary to the east. The centrally located capital city of Slovenia is Ljubljana. Other major cities are Koper, Kranj, and Maribor.

Slovenia is one of the smallest European countries (20,273 sq. km) with a very diverse landscape. It has a short coastline (46 km) alongside the Adriatic Sea, a mountainous range (Alps) it shares with Italy and Austria, and fertile farmlands in the eastern part of the country. Such diverse landscape is directly related to various climates ranging from Mediterranean on the coast to continental in the eastern and alpine regions of Slovenia.

Approximately 2 million people live in Slovenia and their nationality is predominantly Slovenian (83 percent). Primary minority groups in Slovenia include Serbs, Croats, and Bosnians. Slovenian is the official language; however, a large portion of the population (6 percent) speaks Serbian, Croatian, or Bosnian (formerly Serbo-Croatian). The population in Slovenia is aging with a median age of 41 years and only 13 percent of the population younger than 15. As in the majority of other western European countries, the population growth has been in a slight decline (minus.08 percent).

Until recently, the people of Slovenia have been subjected to the control of foreign powers. Slovenia as we know it today was part of the Austro-Hungar-ian Empire until the end of World War I. After World War I, Slovenia joined its fellow Slavic states, Serbia and Croatia, in the Kingdom of Serbs, Croats, and Slovenians. In 1929, the Kingdom of Serbs, Croats, and Slovenians changed its name to the Kingdom of Yugoslavia (Yugoslavia = land of south Slavs). After World War II, Slovenia became one of the constitutive republics in the Socialist Federative Republic of Yugoslavia (SFRJ). Such constitutional status allowed [Page 1452]Slovenia to exercise its powers and declare independence from SFRJ on June 25, 1991.

While part of Yugoslavia, Slovenia was its most thriving region. It was the center for research and development and home to many successful firms. Once on its own, Slovenia continued to thrive. It became a member of the EU and the North Atlantic Treaty Organization (NATO) in 2004, and today it has the highest per capita gross domestic product (GDP) in central Europe. A strong economy and a stable democratic political system have assisted in Slovenia's transformation to a modern state. As such, Slovenia is a benchmark for other countries in transition.

...