HNB governor: 2016 budget within expected limits

Croatian National Bank (HNB) Governor Boris Vujcic said on Friday that the proposed 2016 budget was within expected limits and that the HNB too estimated that this year GDP would grow at a rate of about two percent.

Vujcic held a lecture at the Faculty of Economics in Rijeka on the impact of the monetary policy on Croatia's competitiveness. 

When asked by the press for a comment on the budget proposal, he said: "It's roughly within expected limits. Expenditure remained more or less at last year's levels, which will lead, partly due to revenue growth and partly due to economic growth, to budget adjustment and the budget deficit decreasing to about or below 3% of GDP."

Asked if 2% growth, on which the budget is based, was realistic, Vujcic said that the central bank also estimated the GDP growth rate for this year at 2%. "Considering our growth projection and this budget, a budget revision should not be expected," he added.

Last update: Fri, 11/03/2016 - 15:42

More from Croatia

Stier for more active OSCE role in SE Europe

Attending the 23rd OSCE Ministerial Council in Hamburg on Thursday, Croatia's Foreign and European Affairs Minister...

Croatian President: Officials should refrain from commenting on Constitutional Court's work

Reacting to a statement by Interior Minister Vlaho Orepic that the Constitutional Court's judges were the biggest...

Kiowa Warrior military helicopters presented

Sixteen Kiowa Warrior military helicopters, procured as part of a project to equip the Croatian Armed Forces with...

EC requests Croatia to amend excise duty on ethyl alcohol

The European Commission on Thursday requested Croatia to amend the reduced excise duty rate for small producers of...

Ambassador Del Vechio says Bosnia's stability is Croatia's key interest

Croatia strongly supports the stability and integrity of Bosnia and Herzegovina and it will do everything in its...