The report projects that the share of ageing-related expenses as share of GDP will increase from 24.7% in 2013 to 31.5% in 2060.

Mramor, speaking on the sidelines of an EU ministerial in Brussels, said that the figures meant Slovenia needed to implement what it wrote down in the National Reform Programme.

He referred to reducing the years of study and swifter entry into the labour market as well as substantially extending the population's working period.

"These are the two measures that are absolutely urgent [...] for us to be able to service such large public expenditure in the future," Mramor said.

Out of 100 working age people in Slovenia, 27 were dependent aged above 65 at the start of 2013, which number will double to 58 in 2060, according to the minister.

The proportion of the population aged over 85 is also projected to surge from 2% at the moment to 7% in 2060, he said.

Due to these projections Slovenia has received a stern warning of the need for continued reform from the European Central Bank.

"Slovenia is given special attention aside from Malta, Luxembourg and Germany," the minister said.

Slovenia is one of ten EU member states whose expenditure would increase the most in 2013-60 due to population ageing, according to the Ageing Report.

The increase of the expenditure in these countries as share of GDP is projected to span between 2.5 and 6.8 percentage points.

All ten countries will see an increase in expenditure for pensions. It will exceed three percentage points in Slovenia, Belgium, Luxembourg and Malta.

The manager of Slovenia's pension purse paid out EUR 4.3bn for pensions last year or 11.55% of GDP, according to the annual plan of ZPIZ.

The amount was EUR 34.2m higher than the year before when it stood at EUR 4.25bn or 11.77% of GDP.