Finance Minister Janez Šušteršič said Friday that the government expected to collect an additional EUR 56m more with this measure. The figure is similar to that of the initially proposed selective increase in VAT for print media, pet food, utilities and hairdresser services.

Duty on petrol, diesel and heating oil would go up by 1 cent a litre, which would bring in some EUR 20m a year, according to the minister.

The government is likely to increase electricity duty by 50% at the beginning of 2013. This would bring additional revenue of EUR 16m. However, the price of electricity for the consumer would not change significantly, by less than a euro a month, the minister said.

Meanwhile, the excise duties on alcohol and tobacco, which are to bring in around EUR 10m a year, are to be increased in mid-2013, according to Šušteršič.

The planned new duty on sugary drinks at 10 cent per litre would bring in EUR 10m a year, said the minister. This too is likely to step into force at the beginning of 2013.

The new proposal was welcomed by the Journalists' Association (DNS), which was happy to see the government abandoned the plan that included raising VAT for printed media. They said in a press release that the previous plan would have had a very negative effect on Slovenia's printed media and journalism as such.

The Chamber of Commerce and Industry (GZS), on the other hand, is not as happy with the planned solution and warned the government today against rising taxes. Recession does not allow higher taxes, the GZS said.

Šušteršič responded that without some kid of a tax rise, Slovenia would not be able to reduce its deficit.

It was reported last week that the government was also planning a crisis tax, which the GZS objects as well. But Šušteršič said today that the cabinet was not planning a crisis tax or a rise in the general VAT rate.

The chamber fears that higher taxes would hurt many companies, adding that Slovenia's fuel VAT expressed as a share of GDP is already the highest in the EU.

The minister moreover said that Slovenia would not need another supplementary budget this year. "We will meet the requirement of keeping the budget deficit at 3% of GDP."