Slovenia

The Republic of Slovenia is a Central European country that covers an area of 20,271 square kilometers with a territory stretching from the Alps to the Mediterranean. Surrounded by Italy, Austria, Hungary, Croatia, and the Adriatic Sea, the country has been the point where languages and cultures of Slavic, Romance, and Germanic meet. It has also been a territory of many empires such as the Roman Empire, the Holy Roman Empire, the Austria-Hungary Empire, and the Byzantine Empire. It was also a member state of Yugoslavia.

Its strategic location between Western Europe and the Balkans has put the country to a competitive advantage. Slovenia has a stable economy and has been a model economy for Central Europe with the highest per capita GDP. The country is the richest among Slavic countries powered by its well-developed infrastructure and very well-versed workforce. Because of structural reforms in place to better the enterprise sectors, the foreign market has expanded, and thus, reduced the country’s unemployment. In March 2004, the country graduated from borrower status and became the first transition nation to be a donor partner at the World Bank.

Although Slovenia’s economy is a huge success, Foreign Direct Investment has slacked down as compared to the regional average. The tax rate in the country is still high and sales from its legacy industries have declined due to more competitive businesses in China and India. The country was also impacted by the global recession in 2009 due to the downturn of exports and industrial production.

Slovenia’s national currency was the tolar which replaced the convertible Yugoslav dinar from October 8, 1991, until the country shifted to the euro on January 1, 2007. The first set of tolar banknotes all featured Slovenia’s tallest mountain, Triglav, on the obverse while the reverse displayed Duke Stone, a honeycomb pattern, and a Carniolan honey bee. These notes were printed by Cetis Celje without imprint.

Another set of notes was issued by the Bank of Slovenia in September 1992, featuring the design by Miljenko Licul and Zvone Kosovelj. These notes showcase portraits by artist Rudi Spanzel and were printed by De La Rue except for the highest denomination that was produced by Giesecke & Devrient. 

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