Meeting of the Governing Board of the Bank of Slovenia of 6 July 2010

1. The Governing Board of the Bank of Slovenia discussed current economic and financial developments, and approved the release of the Report on Economic and Financial Developments for June 2010. In addition to foreign activity and the financial sector's support of domestic activity, the consolidation of public finances will be critical for further economic recovery. The movement in labour costs must be brought in line with the level of productivity. The focus in this regard must be on measures aimed at the sustainability of productivity and on stimulating the manufacture of products with higher value-added in the context of industrial policy. The Governing Board of the Bank of Slovenia is concerned about the impact of prices of municipal services and other government-controlled prices on inflation.

2. The Governing Board of the Bank of Slovenia was briefed on the current business activities of banks and developments on capital markets and interest rates.

3. The Governing Board of the Bank of Slovenia was briefed on the main proposed designs for commemorative coins that will be issued in 2011.