natgillin/translations-raw huggingface dataset:
Inflation developments should be seen against a background of solid economic growth over the past decade in Cyprus , while growth was more sluggish in Malta .
Inflacijska gibanja na Cipru je treba obravnavati v okolju razmeroma visoke gospodarske rasti v zadnjem desetletju , medtem ko je bila gospodarska rast na Malti počasnejša .
In Cyprus , real GDP grew by approximately 5 % at the start of the decade , before moderating to around 2 % in 2002 and 2003 , reflecting weakening tourism demand .
Na Cipru je rast realnega BDP na začetku desetletja zanašala približno 5 %, nato pa je leta 2002 in 2003 postala zmernejša in je znašala približno 2 %, predvsem zaradi manjšega turističnega povpraševanja .
In recent years , real GDP growth has picked up again to around 4 %, in line with renewed strength in domestic demand .
V zadnjih letih se je rast realnega BDP spet okrepila in se povzpela na približno 4 %, kar je bilo v skladu z okrepljenim domačim povpraševanjem .
In Malta , following a period of solid economic growth until 2000 , output growth slowed significantly , reflecting external weakness , increased competition in Malta 's export markets and restructuring operations in the manufacturing sector .
Na Malti se je po obdobju razmeroma visoke gospodarske rasti do leta 2000 rast BDP občutno upočasnila zaradi zunanje šibkosti , močnejše konkurence na malteških izvoznih trgih in prestrukturiranja v predelovalnih dejavnostih .
Output growth picked up again in later years and averaged around 3 %, mainly driven by domestic demand .
Gospodarska rast se je v poznejših letih znova okrepila in predvsem zahvaljujoč domačemu povpraševanju v povprečju znašala okrog 3 %.
As regards external developments , Cyprus and Malta have on average recorded current and capital account deficits of around 3.5% and 4 % of GDP respectively over the past ten years .
Glede zunanjih gibanj sta Ciper in Malta v zadnjih desetih letih v povprečju izkazovala primanjkljaj na tekočem in kapitalskem računu v višini približno 3,5% oziroma 4 % BDP .
In 2007 the current and capital account deficit increased to 7.1% of GDP in Cyprus and declined to 3.2% of GDP in Malta .
Leta 2007 se je primanjkljaj na tekočem in kapitalskem računu na Cipru povečal na 7,1% BDP , na Malti pa zmanjšala na 3,2% BDP .
Labour market conditions have remained relatively stable over the past decade in both countries .
Razmere na trgu dela so v obeh državah v zadnjih desetih letih ostale razmeroma stabilne .
In Cyprus , the unemployment rate fluctuated between 3 % and 5 %, while in Malta it mostly hovered around 7 %.
Na Cipru je stopnja brezposelnosti nihala med 3 % in 5 %, na Malti pa se je večinoma gibala okrog 7 %.
Employment growth was relatively strong in Cyprus , rising to almost 4 % between 2003 and 2005 , whereas in Malta employment increased more moderately over this period .
Rast zaposlenosti je bila na Cipru sorazmerno močna in je med letoma 2003 in 2005 dosegla skoraj 4 %, na Malti pa je zaposlovanje v istem obdobju naraščalo počasneje .
Following the economic recovery in recent years , however , conditions in the labour market strengthened in both countries in the course of 2007 .
Po gospodarskem okrevanju v zadnjih letih so se razECB Letno poročilo 2007
Unemployment rates followed a declining trend in both Cyprus and Malta , standing at 3.9% and 5.8% respectively at the end of 2007 .
mere na trgu dela v obeh državah v letu 2007 izboljšale . Stopnja brezposelnosti je na Cipru in Malti upadala in je ob koncu leta znašala 3,9% oziroma 5,8% .
Significant flows of foreign workers , including seasonal workers , support the flexibility of the labour markets in both countries . ECB Annual Report 2007
Precejšnji tokovi tujih delavcev , vključno s sezonskimi delavci , v obeh državah spodbujajo prožnost trga dela .
133 Fiscal policy has become more supportive of the achievement of price stability over recent years in both Cyprus and Malta as their fiscal positions have improved significantly .
V zadnjih letih je fiskalna politika na Cipru in Malti zagotavljala večjo podporo pri doseganju cenovne stabilnosti , saj se je v obeh državah fiskalni položaj občutno izboljšal .
Starting from high levels , the general government deficit-to-GDP ratio started to decline in both countries in 2004 .
V obeh državah se je leta 2004 začel zniževati delež primanjkljaja širše opredeljene države v BDP , ki je bil prej na visoki ravni .
In Cyprus , the deficit ratio of 6.5% of GDP in 2003 turned into a surplus of 1.5% in 2007 , whereas in Malta , the deficit ratio fell from 9.8% of GDP in 2003 to 1.6% in 2007 .
Na Cipru se je primanjkljaj , ki je leta 2003 znašal 6,5% GDP , leta 2007 spremenil v presežek v višini 1,5% , na Malti pa je delež primanjkljaja z 9,8% BDP leta 2003 padel na 1,6% leta 2007 .
In both countries , the improvement in the government 's budgetary situation was mainly driven by non-cyclical factors , although temporary measures have also played an important role in recent years .
V obeh državah je bilo izboljšanje proračunskega stanja predvsem posledica necikličnih dejavnikov , čeprav so v zadnjih letih pomembno vlogo odigrali tudi začasni ukrepi .
The general government debtto-GDP ratio is high in both countries but has declined in recent years .
Razmerje med dolgom širše opredeljene države in BDP je v obeh državah visoko , vendar se v zadnjih letih znižuje .
In Cyprus , the debt ratio declined from a peak of 70.2% of GDP in 2004 to 60 % in 2007 , while in Malta , it fell from 72.7% of GDP to 62.9% over the same period .
Na Cipru se je delež javnega dolga z visokih 70,2% BDP leta 2004 znižal na 60 % leta 2007 , na Malti pa je z 72,7% BDP v enakem obdobju padel na 62,9% .
In Malta , further fiscal consolidation is required if the country is to comply with its medium-term objective specified in the Stability and Growth Pact .
Na Malti je potrebna dodatna fiskalna konsolidacija , preden bo država izpolnila svoje srednjeročne cilje , določene v Paktu za stabilnost in rast .
In addition , in both countries , sufficient room for manoeuvre should be created in the public finances to cope with the expected worsening of the demographic situation , which is likely to entail an increase in age-related public expenditure .
Poleg tega bi bilo v obeh državah treba ustvariti zadosten manevrski prostor v javnih financah , ki bi omogočil obvladovanje pričakovanega poslabšanja demografskega položaja , zaradi katerega se bodo verjetno povečali javni izdatki , povezani s staranjem prebivalstva .
Monetary policy played an important role in the convergence process in Cyprus and Malta .
V konvergenčnem procesu na Cipru in Malti je pomembno vlogo odigrala tudi denarna politika .
Both countries have a long-standing tradition of pegged exchange rate regimes , dating back to the 1960s .
Obe državi imata dolgo tradicijo vezanega tečaja , ki traja že od šestdesetih let naprej .
In addition , the maintenance of price stability as the primary objective of monetary policy was enshrined in the Central Bank of Cyprus Law and the Central Bank of Malta Act in 2002 .
Poleg tega je ohranjanje cenovne stabilnosti kot najpomembnejši cilj denarne politike določen tudi v zakonu o centralni banki Central Bank of Cyprus in zakonu o centralni banki Bank Ċentrali ta » Malta / Central Bank of Malta iz leta 2002 .
The Cyprus pound was pegged to the ECU in 1992 and to the euro in 1999 , with a fluctuation band of ± 2.25% .
Ciprski funt je bil vezan na ECU leta 1992 in na euro leta 1999 z razponom nihanja ± 2,25% . Leta 2001 je bil razpon nihanja razširjen na
The band was widened to ± 15 % in 2001 in the context of an ongoing gradual liberalisation of capital movements .
± 15 % v okviru postopne liberalizacije pretoka kapitala .
However , the Central Bank of Cyprus did not make use of the wider band and the exchange rate moved within a narrow range .
Kljub temu Central Bank of Cyprus ni izkoristila razširjenega razpona in menjalni tečaj se je gibal v ožjem razponu .
The Maltese lira was pegged to a basket of currencies for most of the period following Malta 's independence in 1964 , with large weights being assigned to the ECU / euro , the pound sterling and the US dollar .
Malteška lira je bila vezana na košarico valut v celotnem obdobju od osamosvojitve Malte leta 1964 , pri čemer so bile velike uteži dodeljene ECU / euru , britanskemu funtu in ameriškemu dolarju .
As the euro was the currency with the largest weight in the basket ( accounting for 70 %) , exchange rate fluctuations of the lira vis-à-vis the euro remained fairly limited in the years before ERM II entry .
Ker je bil euro v košarici valuta z največjo utežjo ( predstavljal je 70 %) , so nihanja tečaja lire do eura v letih pred vstopom v ERM II ostala razmeroma omejena .
Both the Cyprus pound and the Maltese lira entered ERM II on 2 May 2005 , joining with the standard fluctuation band of ± 15 %.
Ciprski funt in malteška lira sta v ERM II vstopila 2 . maja 2005 , in sicer s standardnim razponom nihanja ± 15 %.
At that time , the Maltese authorities also stated their intention to maintain the exchange rate of the lira at the central rate against the euro as a unilateral commitment .
Malteške oblasti so takrat tudi izjavile , da nameravajo kot enostransko zavezanost menjalni tečaj lire do eura ohranjati na ravni centralnega tečaja .
During 2007 the monetary policy of the central banks of Cyprus and Malta continued to be geared towards the achievement of price stability .
Leta 2007 je bila denarna politika centralnih bank Central Bank of Cyprus in Bank Ċentrali ta » Malta / Central Bank of Malta še naprej usmerjena v doseganje cenovne stabilnosti .
Both central banks provided support for their exchange rate pegs by keeping their key official interest rates above those of the ECB .
Obe centralni banki sta podpirali vezan tečaj , tako da sta ključne uradne obrestne mere ohranjali nad obrestnimi merami ECB .
The Central Bank of Cyprus kept its minimum bid rate unchanged at 4.5% for most of the year , whereas the Central Bank of Malta increased its central intervention rate twice , in January and May , by a total of 50 basis points to 4.25% .
Central Bank of Cyprus je svojo izklicno obrestno mero večino leta ohranila na ravni 4,5% , Bank Ċentrali ta » Malta / Central Bank of Malta pa je svojo centralno intervencijsko obrestno mero zvišala dvakrat , in sicer januarja in maja za skupaj 50 bazičnih točk na 4,25% .
The alignment of the official interest rates with those of the ECB took place on 21 December 2007 in Cyprus and on 28 December 2007 in Malta , completing the process of convergence of official interest rates .
decembra 2007 na Cipru in 28 . decembra 2007 na Malti , s čimer se je končal proces konvergence uradnih obrestnih mer .
Money market interest rates in Cyprus and Malta moved broadly in line with the official interest rates in each country , resulting in the completion of the convergence of market interest rates in December 2007 .
Obrestne mere na denarnem trgu so se na Cipru in Malti gibale bolj ali manj skladno z uradnimi obrestnimi merami , kar je decembra 2007 pripeljalo do dokončne konvergence tržnih obrestnih mer .
Long-term interest rates had already been close to euro area levels since early 2006 .
Dolgoročne obrestne mere so bile blizu tistim v euroobmočju že od začetka leta 2006 dalje .
This reflected market confidence in general economic developments in both countries and the credibility of their monetary and exchange rate policies .
To je v obeh državah odražalo zaupanje trga v splošna gospodarska gibanja in verodostojnost denarne in tečajne politike .
Following their adoption of the euro , the main policy challenge for both Cyprus and Malta is to ensure the conduct of appropriate national economic policies in order to secure a high degree of sustainable convergence .
Po uvedbi eura je glavni izziv politik na Cipru in Malti izvajanje ustreznih nacionalnih ekonomskih politik , s katerimi bo zagotovljena visoka stopnja vzdržne konvergence .
It is particularly important for both countries to continue on sustainable and credible paths of fiscal consolidation based on structural measures and
Pomembna izziva
to improve their fiscal performances by tangibly reducing their debt ratios .
za obe državi sta nadaljnje izvajanje vzdržne in verodostojne fiskalne konsolidacije na podlagi strukturnih ukrepov ter izboljšanje fiskalne uspešnosti z občutnim zmanjšanjem deleža dolga .
It is also important that they maintain moderate wage developments that take into account labour productivity growth , labour market conditions and developments in competitor countries .
Prav tako je pomembno , da ohranjata zmerno gibanje plač , ki upošteva rast produktivnosti dela , razmere na trgu dela in gibanja v konkurenčnih državah .
In both countries , the strengthening of competition in product markets and improvements in the functioning of the labour market are key elements in this regard .
Pri tem sta ključna elementa v obeh državah krepitev konkurence na trgih proizvodov in izboljšanje delovanja trga
In
dela .
Cyprus , for example , the indexation mechanism for wages and for some social benefits ( such as cost-of-living allowances ) should be overhauled in order to reduce the risks associated with inflation inertia .
Na Cipru na primer bi bilo treba temeljito preoblikovati mehanizem indeksacije plač in nekaterih socialnih prejemkov ( npr . dodatkov za življenjske stroške ) , da bi se zmanjšala tveganja , povezana z inercijo inflacije .
In Malta , attention must also be paid to overcoming the structural constraints on economic growth and job creation , notably by fostering labour participation .
Na Malti pa je pozornost treba posvetiti tudi premagovanju strukturnih omejitev , ki zavirajo gospodarsko rast in ustvarjanje delovnih mest , predvsem s spodbujanjem rasti deleža aktivnega prebivalstva .
Box 10
Okvir 10
STATISTICAL IMPLICATIONS OF THE ENLARGEMENT OF THE EURO AREA TO INCLUDE CYPRUS AND MALTA The enlargement of the euro area to include Cyprus and Malta as of 1 January 2008 is the third occasion on which statistical series for the euro area have had to be amended in order to include additional member countries .
ŠIRITVE EUROOBMOČJA NA CIPER IN MALTO TER POSLEDICE ZA STATISTIKO Širitev euroobmočja na Ciper in Malto 1 . januarja 2008 je tretji dogodek , zaradi katerega je treba serije statističnih podatkov za euroobmočje spremeniti , da bi vključevale nove države članice .
The preparation of statistics for the enlarged euro area has been coordinated , where necessary , with the European Commission .
Priprava statističnih podatkov za razširjeno euroobmočje se je po potrebi usklajevala z Evropsko komisijo .
The entry of Cyprus and Malta into the euro area means that residents of these countries have become residents of the euro area .
Vstop Cipra in Malte v euroobmočje pomeni , da so rezidenti obeh držav postali rezidenti euroobmočja .
This affects statistics for which euro area aggregates are not a simple sum of national data , such as monetary , balance of payments and international investment position statistics , as well as financial accounts , because transactions between residents of Cyprus and Malta and other euro area residents must now be consolidated .
To vpliva na statistiko , pri kateri agregati euroobmočja niso samo seštevek nacionalnih podatkov , kot so denarna statistika , statistika plačilne bilance in stanja mednarodnih naložb ter finančni računi , saj morajo biti zdaj transakcije med ciprskimi in malteškimi rezidenti ter drugimi rezidenti euroobmočja konsolidirane .
As of January 2008 Cyprus and Malta are thus obliged to meet all the statistical requirements of the ECB , i.e. to provide fully harmonised and comparable national data .
Po januarju 2008 morata Ciper in Malta izpolnjevati vse statistične zahteve ECB , tj . zagotavljati morata popolnoma harmonizirane in primerljive nacionalne podatke .
1 Since the preparatory work for new statistics requires a long lead time , the central banks of Cyprus and Malta and the ECB started the statistical preparations well before Cyprus and Malta joined the EU .
1 Ker priprava novih statistik zahteva veliko časa , sta centralni banki Cipra in Malte z ECB začeli statistične priprave veliko pred tem , preden sta Ciper in Malta vstopila v EU .
After becoming members of the ESCB , the Central Bank of Cyprus and the Central Bank of Malta intensified their preparations to fulfil the requirements of the ECB in the field of monetary , banking , balance of payments , government finance , financial accounts and other financial statistics .
Potem ko sta postali članici ESCB , sta Central Bank of Cyprus in Bank Ċentrali ta » Malta / Central Bank of Malta pospešili svoje priprave , da bi izpolnili zahteve ECB na področju denarne in bančne statistike ter statistike plačilne bilance , javnih financ , finančnih računov in druge finančne statistike .
In some statistical areas , an action plan has been developed with the two countries in order to ensure the gradual fulfilment of all ECB statistical requirements in the course of 2008 .
Na nekaterih statističnih področjih je bil z obema državama pripravljen akcijski načrt , ki naj bi v letu 2008 zagotovil postopno izpolnjevanje vseh statističnih zahtev ECB .
In addition , the central banks of Cyprus and Malta had to carry out the necessary preparations for the integration of Cypriot and Maltese credit institutions into the ECB 's minimum reserve system and to fulfil the relevant statistical requirements .
Poleg tega sta Central Bank of Cyprus in Bank Ċentrali ta » Malta / Central Bank of Malta morali izvesti ustrezne priprave za integracijo ciprskih in malteških kreditnih institucij v sistem obveznih rezerv ECB ter za izpolnitev ustreznih statističnih zahtev .
For the data reporters and NCBs of the other euro area countries , the enlargement of the euro area meant that from January 2008 they had to report transactions ( or flows ) and positions with residents of Cyprus and Malta as part of the euro area data , rather than as transactions and positions with non-euro area residents .
Za poročevalce podatkov in nacionalne centralne banke drugih držav članic euroobmočja širitev euroobmočja pomeni , da morajo od januarja 2008 o transakcijah ( ali tokovih ) in stanjih v zvezi z rezidenti Cipra in Malte poročati v okviru podatkov euroobmočja in ne kot o transakcijah in stanjih v zvezi z nerezidenti euroobmočja .
ECB Annual Report 2007 135
ECB Letno poročilo 2007
In addition , Cyprus , Malta and the other euro area countries all had to provide backdata with sufficient geographical and sector detail , dating back at least as far as 2004 , the year Cyprus and Malta joined the EU .
Poleg tega so morali Ciper , Malta in druge države euroobmočja pripraviti podatke za nazaj z zadostnimi podrobnimi geografskimi in sektorskimi informacijami , ki segajo najmanj v leto 2004 , ko sta Ciper in Malta vstopila v EU .
Regarding the publication of euro area statistics , the ECB has granted users online access to two sets of time series , one containing data for the current euro area ( i.e. including Cyprus and Malta ) as far back as available , and one linking the various compositions of the euro area , starting with the 11 countries in 1999 . 136
Kar zadeva objavljanje statističnih podatkov euroobmočja , je ECB uporabnikom omogočila neposreden dostop do dveh sklopov časovnih vrst , od katerih eden vsebuje podatke za zdajšnje euroobmočje ( tj . vključno s Ciprom in Malto ) , ki zajemajo čim daljše obdobje za nazaj , drugi pa povezuje različne sestave euroobmočja vse od leta 1999 , ko ga je sestavljalo enajst držav .
2 LEGAL ASPECTS OF THE INTEGRATION OF THE CENTRAL BANK OF CYPRUS AND THE CENTRAL BANK OF MALTA INTO THE EUROSYSTEM Pursuant to Article 122 ( 2 ) of the Treaty , the ECB reviewed the statutes of the Central Bank of Cyprus and the Central Bank of Malta and other relevant Cypriot and Maltese legislation for compliance with Article 109 of the Treaty .
2 PRAVN I V I D I K I I N T EG R A C I JE CE N TR A L N E BA N K E C IP R A I N C E N T R A L N E BAN KE M A LT E V EUR O SI ST E M V skladu s členom 122 ( 2 ) Pogodbe ES je ECB preverila skladnost statuta centralne banke Central Banke of Cyprus in Bank Ċentrali ta » Malta / Central Bank of Malta ter druge relevantne ciprske in malteške zakonodaje s členom 109 Pogodbe .
The ECB made a favourable assessment of the compatibility of Cypriot and Maltese legislation with the Treaty and with the Statute of the ESCB , as stated in its Convergence Report on Cyprus and Malta published in May 2007 .
ECB je pozitivno ocenila skladnost ciprske in malteške zakonodaje s Pogodbo in Statutom ESCB , kar je navedla v svojem konvergenčnem poročilu za Ciper in Malto , objavljenem maja 2007 .
The ECB , the Central Bank of Cyprus and the Central Bank of Malta put in place a number of legal instruments with a view to ensuring the integration of the Central Bank of Cyprus and the Central Bank of Malta into the Eurosystem on 1 January 2008 .
ECB , Central Banke of Cyprus in Bank Ċentrali ta » Malta / Central Bank of Malta so uvedle številne pravne instrumente , da bi zagotovile integracijo centralne banke Central Banke of Cyprus in Bank Ċentrali ta » Malta / Central Bank of Malta v Eurosistem 1 . januarja 2008 .
The Eurosystem 's legal framework was adapted as a consequence of the decision taken by the ECOFIN Council on 10 July 2007 to abrogate the derogations of Cyprus and Malta 1 .
Pravni okvir Eurosistema je bil sprejet na podlagi odločbe Ekonomsko-finančnega sveta z dne 10 . julija 2007 o odpravi odstopanja za Ciper in Malto .
The introduction of the euro in Cyprus and Malta and the integration of their central banks into the Eurosystem also required changes to some Cypriot and Maltese legal instruments .
1 Zaradi uvedbe eura na Cipru in Malti ter integracije njunih centralnih bank v Eurosistem je bilo treba prav tako spremeniti nekatere ciprske in malteške pravne instrumente .
In March 2007 the Central Bank of Cyprus 's statutes were brought into line with recommendations in the ECB 's Convergence Reports 2004 and 2006 .
Marca 2007 je bil statut centralne banke Central Bank of Cyprus usklajen s priporočili v konvergenčnih poročilih ECB iz leta 2004 in 2006 .
Cyprus had consulted the ECB on the draft amendments to the statutes of the Central Bank of Cyprus on three occasions .
Ciper se je z ECB trikrat posvetoval o predlogu sprememb statuta Central Bank of Cyprus .
The ECB adopted three opinions proposing changes , 2 which were reflected in the final version of the statutes .
ECB je sprejela tri mnenja s predlogi sprememb , 2 ki so bile nato upoštevane v končni različici statuta .
In the course of 2007 , the ECB was also consulted on amendments to other Cypriot legislation , governing currency issues .
Leta 2007 je bila ECB zaprošena tudi za mnenje o spremembah druge ciprske zakonodaje , ki ureja valutna vprašanja .
3 Malta consulted the ECB on the draft amendments to the Central Bank of Malta 's statutes on 30 March 2006 .
3 Malta se je z ECB o predlogu sprememb statuta Bank Ċentrali ta » Malta / Central Bank of Malta posvetovala dne 30 . marca 2006 .
The ECB adopted an opinion 4 proposing a number of changes , which were taken on board in the amendments to the statutes .
ECB je sprejela mnenje , 4 s katerim je predlagala številne spremembe , ki so bile upoštevane v spremembah statuta .
The Central Bank of Malta also consulted the ECB on 21 November 2006 on further changes to the Central Bank of Malta 's statutes to reflect the recommendations contained in the ECB 's Convergence Report 2006 .
Poleg tega se je Bank Ċentrali ta » Malta / Central Bank of Malta dne 21 . novembra 2006 z ECB posvetovala o nadaljnjih spremembah statuta Bank Ċentrali ta » Malta / Central Bank of Malta , v katerih bi bila upoštevana priporočila iz konvergenčnega poročila ECB iz leta 2006 .
The ECB adopted an opinion 5 on the changes , which was also reflected in the final version of the Central Bank of Malta 's statutes .
ECB je sprejela mnenje 5 o spremembah , ki so bile upoštevane v končni različici statuta Bank Ċentrali ta » Malta / Central Bank of Malta .