Reform plan good but was in past too, says analyst

The European Commission's recommendations on Croatia's National Reform Programme show that the government's goals and plans are good, an analyst said on Wednesday, but warned that this was the case in previous years too, however measures were not implemented, and if this continued, Croatia could fall into a vicious circle.

The reforms show that the planned goals and reforms are definitely good but this was the case in past years too, yet Croatia was not successful in implementing the reforms to which it committed, Splitska Banka economist Zdeslav Santic told Hina.

The "Commission wants the progress achieved last year in reducing the budget deficit to continue" and to see "that this was not a one-off improvement but a constant struggle to reduce public spending. We must realise that further fiscal consolidation this year is dominantly based on an increase in revenues hence it is to be expected that the EC recommends continuing with fiscal consolidation, but also that there is a willingness to make certain corrections on the expenditures side in case revenues turn out to be a little lower than expected," Santic said.

Last update: Wed, 18/05/2016 - 19:10
Author: 

More from Croatia

Remaining Kiowa Warrior helicopters for Croatian army delivered

Eleven OH-58D Kiowa Warrior military helicopters were delivered to the Croatian Air Force base in Zemunik on...

Croatia needs change and SDP must start it, says opposition leader

Newly elected Social Democratic Party (SDP) president Davor Bernardic said in Zagreb on Saturday that Croatia needed...

Minister says buying controlling interest in INA worth the challenge

State property Minister Goran Maric said in an interview with the Jutarnji List daily on Saturday that the INA oil...

Croatian foreign ministry target of hacker attack, classified info not compromised

The Croatian Foreign and European Affairs Ministry has discovered that during the term of the previous government...

Museum of tastes opens in Osijek

A museum of tastes was formally opened in Osijek by Prime Minister Andrej Plenkovic on Friday on the occasion of...