Page 135 - SE Outlook Regions 2023

Meanwhile Serbia is investing into new technology in the agriculture
sector. Digitisation of agriculture is already helping farmers to respond
to changing conditions and raise production, according to the BioSense
Institute in Serbia’s Novi Sad that works on projects that span bio
systems and IT. Compared to the region, Serbia is ahead in the
digitalisation of agriculture, though it still lags behind European
frontrunners like France or the Netherlands.

3.11 Real economy - Slovenia

3.11.1 Retail

In the first ten months of 2022, total retail sales were up by 24.1% y/y
and compared to the reference 2015, they jumped 59.7%. Without
automotive fuel, the retail sales were up 3.8% y/y in the first ten
months.

According to the Organisation for Economic Co-operation and
Development (OECD), the economic growth continued into the summer
2022, supported by the expansion of service activities. However, retail
trade turnover (without volatile automotive fuel sales) registered weaker
growth of 0.4% month-on-month in September, while industrial
production growth turned negative.

3.11.2 Banks

In October the macro stress tests conducted at commercial banks
confirmed the stability of the banking system and demonstrated the
banks’ adequate capital adequacy, the central bank announced.

Despite the positive results, the systemic risks for financial stability are
still elevated and are related to the consequences of the Russian
military aggression on the European economy.

135 SE Outlook 2023 www.intellinews.com