Amendments on central bank law to be discussed after ECB position

A bill of amendments to the Croatian National Bank Act (HNB) which, among other things, would enable the State Audit Office to audit the work of the central bank, will be discussed only when the European Investment Bank (ECB) takes a position on it, the government decided on Wednesday.

The government forwarded an opinion to that effect to parliament. The bill was moved by 45 MPs to enable the State Audit Office to audit the central bank's financial reports and operations once a year, and to enable parliament to discuss and vote on the bank's annual reports at a plenary. The bill also proposes limiting the terms of the governor and the vice governor to two six-year terms.

Deputy Finance Minister Sasa Drezgic said at the government session that parliament should discuss the bill only after the ECB delivered its opinion, which was requested by the Finance Ministry. He said that as a member state of the European Union Croatia, had the duty to consult the ECB about any draft regulations within the ECB's remit.

The government also adopted a decision under which the Transport Ministry assumes the obligation to sign a contract on domestic air transport on routes in which airlines have no business interest but which are deemed vital for the economic and social development of a specific region. The national flag carrier Croatia Airlines and Trade Air were chosen in a public tender for flying those routes and are entitled to over HRK 388 million for the 2016-20 period as compensation.

The government also approved collateral for the Uljanik shipyard for 80 percent of the financing for two ships for the transport of cars, trucks and containers which the Pula-based dock is building for CLdN roro S.A. Luxembourg to the amount of EUR 64.9 million.

Last update: Wed, 25/05/2016 - 11:42
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