Slovenia's parliament Friday approved a government privatization plan that is key for this small euro-zone country to avoid seeking an international bailout for its troubled state-owned banks.

Some 46 lawmakers, a narrow majority in the 90-seat parliament, gave the five-party centrist coalition government the green light to seek buyers for fifteen state-owned companies, including Nova Kreditna Banka Maribor d.d. (KBMR.LJ), or NKBM, the country's number two bank in asset terms and Telekom Slovenije d.d. (TLSG.LJ), the main telecommunications operator.

Other companies on the privatization list are smaller and span sectors from chemicals, leisure and food processing to sports equipment.

The Slovenian government owns more than 100 enterprises in nearly all sectors of the country's export-focused economy. Analysts said they expect the government will have to offer other companies--currently not slated for privatization--to meet its goals of reducing its yawning budget deficit and raising funds to shore up its troubled banks.

"This is only one piece in the mosaic of our [financial] stability agenda," Finance Minister Uros Cufer said ahead of the vote.

Out of 68 lawmakers present at the vote, twenty were against the privatization list and two abstained.

The government has no estimate of how much it can raise through the sale of these fifteen state-owned enterprises. Some analysts, including Citigroup's Jaromir Sindel, forecast the government may raise up to 750 million euros ($991 million) with Telekom Slovenije and NKBM accounting for most of the income.

The government wants to let NKBM and two other banks--Nova Ljubljanska Bank d.d., or NLB, and Abanka Vipa d.d. (ABKN.LJ)-- transfer about a half of their 7 billion euros in non-performing loans onto a state-run Bank Assets Management Company, or DUTB, also known a bad bank. The total bad loans, unpaid for 90 and more days, in the hands of the three banks equal to about 20% of Slovenia's total economic output.

Write to Leos Rousek at leos.rousek@dowjones.com

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