The total savings are less than initially planned in the blueprint of the document that has been debated since late June, which envisaged spending cuts of EUR 450-500m.

The draft austerity plan envisages spending of EUR 9.65bn for this year, compared to just over EUR 10bn in the original 2011 budget.

Revenues are to stand at EUR 7.95bn.

"We are adopting the supplementary budget in difficult financial conditions...This is meant as a signal to the markets that we have our costs under control," Finance Minister Franc Krizanic said.

Krizanic said the draft would undergo minor corrections by next week, when a final version of the document is to be confirmed and sent to parliament.