"This is one of the most important strategic documents representing the government's plan of work by the end of the year," Žerjav said about the package adopted by the cabinet on Thursday adding that the government was committed to realise its content by the end of the year.

The package comprises 21 bills, twelve bylaws and ten strategic documents the most important of which are changes to the employment relationships act, pension and disability insurance act, labour market regulation act and prevention of undeclared work and employment act.

A priority is "to face up to this get rigid labour market and to respond to the needs of the Slovenian economy, in particular in the sense of creating a more competitive environment," he said.

The other set of measures in the package relates to bank restructuring. It includes a motion designed to boost the stability of Slovenian banks by setting up a fund to deal with bad loans, as well as changes to the banking act.

A third set of solutions aims to improve the business environment and includes many legislative changes mainly in the field of finance.