The most productive of the former Yugoslav republics, Slovenia enjoys a high degree of prosperity and stability, and has made a successful transition to a market economy. Slovenia has become a member of the International Monetary Fund (IMF) as well as the World Bank; it obtained an $80 million loan for financial rehabilitation from the latter. The EBRD loaned Slovenia $50 million for the improvement of the railway sector. The country is a founding member of the WTO. Unlike the rest of the former communist states of Eastern Europe, Slovenia never received assistance from the International Monetary Fund. Its per capita gross domestic product (GDP) is comparable to EU members Portugal and Greece. Slovenia was formally invited to join the EU in December 2002, with accession planned for May 2004.
Slovenia's economy is heavily dependent upon foreign trade, with trade equaling around 120% of GDP. The budgets for 2003 and 2004 restricted the public deficit to 1% of GDP. Inflation fell from 200% in 1992 to 7.5% in 2002. Further privatizations—especially in the telecommunications, financial, and energy sectors—were planned as of 2003. Foreign direct investment has been high since 2000, almost tripling from 2001 to 2002 (accounting for 6.5% of GDP).