(Reuters) – Slovakia’s parliament on Wednesday approved a tax on sweetened soft drinks, part of the government’s deficit-cutting plans.

The finance ministry forecasts the new tax will raise nearly 80 million euros in 2025, rising to around 110 million euros annually in 2026 and 2027.

Slovakia is facing one of the euro zone’s highest budget gaps and the government is aiming for savings and new income worth at least 1.5 billion euros to cut the deficit in 2025.

Under the bill approved on Thursday, packaged drinks with added sugar or sweetener will be taxed at 0.15 euros per litre, starting from January.

(Reporting by Jason Hovet in Prague; Editing by Kevin Liffey)