Financial Crime World

Slovenian Bodies Enjoy Independence, Autonomy in Performing Tasks

Regulatory Bodies: A Key Component of Slovenia’s Functioning

Ljubljana, Slovenia - A recent review of regulatory bodies in Slovenia has highlighted the importance of their independence and autonomy in performing their tasks. These bodies play a vital role in maintaining financial stability and ensuring that public funds are used effectively for the benefit of citizens.

Financial Administration (FA)

The FA is responsible for managing public finances, with its operation based on principles of publicity, transparency, and predictability. The FA’s tasks include:

  • Assessment and calculation of mandatory duties
  • Customs clearance of goods
  • Financial control

These tasks are stipulated in the Financial Administration Act.

Public Funds Law (PFL)

The PFL regulates public funds as special legal entities aimed at implementing policies of their founders. There are currently 13 public funds operating in Slovenia, with a total of 475 employees.

Slovenian Compensation Company (SSH)

The SSH is a fully state-owned holding company responsible for managing the largest portfolio of state capital assets in more than 50 Slovenian companies.

Public Institutions: A Key to Education and Innovation

Public institutions such as universities and research centers are crucial to Slovenia’s education and innovation sectors. These bodies are regulated by sectoral legislation and play an essential role in Slovenia’s development.

Response to the COVID-19 Pandemic

In response to the COVID-19 pandemic, the Stability Programme of the Republic of Slovenia (2021) was adapted to address the resulting economic challenges. The Recovery and Resilience Plan has had a significant impact on economic growth in 2020.

As part of its efforts to strengthen resilience and recovery measures, Slovenia is eligible to receive EUR 1,777,322 from the European Union’s Recovery and Resilience Facility, according to Regulation (EU) 2021/241.

Conclusion

Overall, these regulatory bodies play a vital role in maintaining Slovenia’s financial stability and ensuring that public funds are used effectively for the benefit of citizens. Their independence and autonomy enable them to perform their tasks efficiently, contributing to the country’s development and prosperity.