Dragonja also made a strong plea against any new taxes affecting companies. "We'll be working deliberately and prudently to achieve goals that a modern administration must achieve in the field of economy," the new minister said.

He also explicated his idea of a EUR 500m subordinated capital fund that would enter companies' ownership for five to seven years in order to improve their financial structure.

He said this was just a rough idea resulting from the fact that the economy is overindebted today and that the delaveraging methods envisaged in the new coalition agreement would not be enough.

"Banks today are simply no longer in a position to take major risks. In such cases capital adequacy in companies must be improved not by the state entering as an owner but through a more specific scheme as a non-active owner for a limited time and with the commitment the funds are returned."

Dragonja added that the money for the fund would have to be sought with private capital world-wide, as it cannot come mainly in the form of state aids.

The minister also announced that a strategy of economic development would soon be presented and would form a basis for a decision where the state would be actively present, where it would withdraw from and which activities had the competitive advantages to be successful internationally.

But he also said that he was a "man of practice and will try to solve as many problems as possible effectively as they come up".

He was not involved in the making of the new coalition agreement, but said the document would be amended if necessary, and that compromise would have to be sought.

The main priority at the moment in his opinion is to secure a continued dynamic growth in exports, which he labelled as the most precious component of economic activity at the moment.

Dragonja repeated that privatisation must be prudent, while noting that certain commitments had been given to the European Commission and financial markets that proceeds from privatisation would go to reduce debt.

He said that the main role in privatisations would be played by the Sovereign Holding. "Certain due diligence processes have begun and the goal is to get proper owners who will be involved in the companies' development."

Commenting on the expectations that he would serve as a counterbalance to Finance Minister Uroš Čufer, Dragonja said he would aspire to coordinate his work with other departments as an expert rather than as a politician.

Asked about trade unions' demand for preservation of jobs, Dragonja underscored the need to re-establish conditions for the creation of new jobs, especially for young people.

"Any new burden on the economy is absolutely unacceptable," he said, adding that alleviating the tax burden on companies or incentives to boost competitiveness were needed instead.