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Slovenian legislators confirm privatization package

22 June 2013 04:33 (UTC +04:00)

Baku-APA. Slovenian parliament adopted on Friday a bill by the cabinet to sell state-owned stakes in 15 companies, APA reports quoting Xinhua.

The companies include flag carrier Adria Airways , and New Credit Bank Maribor (NKBM), the second largest banking group in the country.

Beside business affiliated with Adria Airways, the sale of state assets also covers, among others, the field of telecommunication, manufactures of food, chemicals and tools.

The privatization package is believed to be part of efforts by the government led by Prime Minister Alenka Bratusek to avert an international bailout.

It will be a stone in the mosaic of a comprehensive economic policy, Finance Minister Uros Cufer said at an extraordinary session of parliament.

The privatization package is expected to result in total savings of around 1 billion euros (1.3 billion U.S. dollars) in spending cuts and revenues, according to the minister.

Slovenia has been in growing financial difficulties since 2008 which saw the start of financial crisis in the United States and Europe.