tomislav panenić.jpg
Photograph: HINA/ Damir SENČAR /ds

Economy Minister Tomislav Panenic said on Tuesday after a meeting at which Prime Minister Tihomir Oreskovic and Finance Minister Zdravko Maric presented the basic guidelines for the 2016 state budget that budgetary cuts must be made adding that public companies executives would be elected through public tenders.

"Cuts most definitely must be made. We need to go through it, item by item, my ministry also has certain liabilities, left behind by the previous government, that need to be settled. We need to consider this and then we shall see to what extent cuts must be made," Panenic said at a meeting in the government headquarters.

Cuts most definitely come from restructuring, the minister said adding that the government would see which way it would carry out the merger of agencies or scaling down of agencies.

Asked about the appointment of executives in public companies, Panenic said the government would respect the law which says public companies executives should be appointed through a public tender.

In October 2015, the previous government decided that management boards of companies and other legal entities of strategic and special interest for Croatia would in the future be chosen with the help of specialised recruitment services used to source candidates for senior, executive or other highly specialised positions in organisations, the so-called headhunting agencies.

Under the government's decree, head-hunting agencies will receive applications, they will contact potential candidates through their own reference lists, evaluate them and nominate the best.

Relevant ministries will then evaluate the candidate's business plan and send their opinion to the government's commission for the management of strategic companies.

The public announcement of tenders and the participation of specialised agencies will help create better transparency, the then government said, adding that solutions like this one were in accordance with the National Reform Programme and recommendations of the European Commission to increase transparency in public companies.

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