This is despite the planned 5% cuts in cohesion funding and the common agricultural policy, the two major areas of interest for Slovenia, a net recipient.

"I wouldn't be too worried, but of course there will be change," Bulc said as she was answering a reporter's question of whether Slovenia can be happy with the proposal.

She stressed it would be particularly important to develop competences needed to successfully draw funds from "general envelopes", which are available in all areas.

The commissioner also hopes "Slovenia will successfully take steps towards member states which will eventually become net contributors".

The budget for the 2021-2027 period amounts to 1.135 trillion euros as expressed in 2018 prices, which is equivalent to 1.11% of the EU's gross national product.

Bulc labelled it "ambitious, very solidarity-based and investment-oriented", stressing that more than 93% of all funds would go for investment.

She is also happy that more funds would be earmarked for some key future-oriented portfolios, such as Erasmus plus or research and development.

The commissioner is also happy with the proposed funds for transport, which would increase from 24.1 to 30.6 billion euro.