Ljubljana - The government has formally initiated a revision of this year's national budget by triggering provision of the act on public finances that allows it to temporarily suspend the implementation of expenditures. This will be followed by the drafting of a supplementary budget.

The decision was taken because the budget is "out of balance due to altered economic circumstances and new liabilities," the government said after Thursday's session.

The move means that as of Friday the government will not enter into new financing commitments and it may propose the extension of contractual payment terms.

It may also require that budget users seek Finance Ministry approval before entering into any new contractual agreement.

The law requires that the temporary measures apply equally to all budget users.