Slovenia’s parliament endorsed the draft state budget for 2020-2021 early on November 22 as PM Marjan Sarec managed to gain critical support from opposition parties after the Left party (Levica) withdrew its support for the government.
The minority government led by Sarec was on the brink of collapse since the leftist party decided to withdraw its support earlier this month due to disagreements over supplemental health insurance, which Levica wanted to be abolished.
The budgets were passed in a 49-41 vote with the support of the opposition National Party (SNS) and several other minority MPs.
The withdrawal of the Left party, left the majority short of three MPs in the 100-seat parliament which will make harder for Sarec to complete his four-year mandate.
"The first test was passed, but the troubles do not end," Sarec wrote on Twitter. He expects that the Democratic Party (DS) party to veto the budget implementation in the upper house of the parliament, but hopes that a solution will be found.
The Slovenian government plans surpluses for both years, 2020 and 2021. For 2019, the Slovenian budget surplus is projected to reach €194mn, or 0.4% of GDP.
According to Finance Minister Andrej Bartoncelj, the budgets maintain a high level of social security, and also have a development component.
Related Articles
Saudi private sector secures 82% of development fund contracts worth $3bn
Saudi private companies have captured 82% of contracts signed by the Saudi Development Fund over the past three years, with a total value exceeding $3bn, according to Abdulmohsen Al-Khayyal, ... more
Construction work on $4.6bn Trans-Afghan Railway could reportedly be under way within six months
Construction work on the proposed Trans-Afghan Railway could be under way within six months, while the project could cost around $4.6bn to deliver and cut shipping transit times from Uzbekistan to ... more
Uzbekistan’s banking sector becoming more resilient, says Fitch
Uzbekistan’s banking industry is becoming more resilient, with the sector underpinned by ongoing structural reforms, stronger regulation and improving governance, ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago