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

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