Central bank pays HRK 483 mln into state budget

The Croatian National Bank (HNB) last year recorded a net profit of HRK 2.03 billion of which HRK 483 million will be paid into the state budget and the rest will go to the central bank's reserves, according to a statement issued on Wednesday after a session of the HNB Council.

According to the statement. the Council adopted the six-month report on the financial situation, the level of stability of prices and the implementation of the monetary policy in the second half of 2015, as well as the reports on the bank's overall financial business in 2015 on which an independent external auditor gave his opinion.

"In 2015, the central bank's net profit amounted to HRK 2.03 billion. In line with legal regulations, HRK 483 million will go to the state budget and the rest ... will go to the bank's reserves." the central bank said.

Also discussed at the session were the latest economic and monetary movements.

"The beginning of 2016 saw the continuation of the economic activity growth, following its temporary decrease at the end of 2015, as evidenced by monthly indicators: a strong growth of the industrial output, construction and retail sales, as well as the continuation of favourable movements on the labour market. The annual decrease in the consumer prices in March has accelerated due to the trends in energy prices, while the fall in the basic inflation rate has decelerated," the statement said. 

The HNB also said that despite the expansionary character of the monetary policy, the exchange rate of the national currency kuna against the euro slightly increased at the end of April , in comparison with the end of 2015.

(EUR 1 = HRK 7.5)

Last update: Wed, 11/05/2016 - 19:35

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