"We have a few new instruments, now let's focus on the recovery. We've laid out a sober, responsible, rapid but also ambitious and prudent path to recovery," he said.

According to Šircelj, member states have different views "but it turned out in the end that we can close ranks, find compromise solutions and work on them down the line."

"I'm convinced this will strengthen trust in the EU and its position in the world," Šircelj was quoted as saying by the Finance Ministry.

His comments come after EU finance ministers agreed a EUR 500 billion package of short-term measures to mitigate the economic consequences of coronavirus.

The Finance Ministry said the package included loans from the European Stability Mechanism (ESM), a new mechanism called SURE and new guarantee schemes from the European Investment Bank (EIB).

Additionally, it was agreed to start work on a temporary fund for the recovery of the economy.

Slovenia has been in a group of countries that advocated a shared debt instrument called corona bonds, an idea strongly opposed by some northern member states. The proposal is off the table for now, according to media reports.