The budget deficit in 2014 amounted to HRK 18.39 billion, which is almost HRK 450 million less than the national statistics bureau (DZS) first estimated, while the general government debt was HRK 279.57 billion or HRK 5 million higher.
The DZS October report released on Tuesday notes that the general government deficit for 2014 amounted to HRK 18.39 billion, whereas figures released in April indicated a deficit of HRK 18.8 billion. According to the latest information, the general government deficit last year accounted for 5.6% of Gross Domestic Product (GDP) or 0.14% less than in April's estimates.
The general government debt in 2014 amounted to HRK 279.57 billion or 85.1% of GDP, while initial estimates forecasted a debt of HRK 279.56 billion or 85% of GDP.
DZS explained that the most significant change in relation to the April data relates to changes in the amount of profit tax, by HRK 785 million, due to the application of the cash timing adjustment method, as well as the recapitalisation of the Petrokemija artificial fertiliser factory with HRK 250 million. This and other minor changes have resulted in an overall positive impact on the deficit of 0.14% of GDP.