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.
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