Analyst pleasantly surprised by budget deficit level

The chief economist at Societe Generale Splitska Banka, Zdeslav Santic, on Thursday welcomed the latest statistics on Croatia's budget deficit and public debt as "a pleasant surprise".

Croatia's consolidated general government budget deficit in 2015 was HRK 10.7 billion or 3.2% of Gross Domestic Product, while consolidated general government debt reached HRK 289.7 billion or 86.7% of GDP, according to figures from a report on excessive budget deficit and general government debt in Croatia, presented at the National Bureau of Statistics (DZS) in Zagreb on Thursday.

Santic told Hina that "most definitely the level of the budget deficit at 3.2% of GDP is a most pleasant surprise". He recalled that in 2014 it stood at over 5%.

The analyst also pointed out higher-than expected economic growth of 1.6% in 2015.

On the other hand, Santic warned about headwind factors such as a 0.5% decline in consumer prices affecting the budget revenues in 2015.

In 2015, Croatia registered deflation for the second year in a row, he recalled.

Last update: Thu, 21/04/2016 - 13:25

More from Croatia

Slovenian PM announces stricter controls of border with Croatia in case of migrant wave

Slovenian Prime Minister Miro Cerar on Monday announced a stricter control of the border with Croatia in case of...

Croatian president addresses students in Azerbaijan

The future of the European Union and the challenges it faces, NATO enlargement and the refugee crisis were topics...

Croatian average take-home pay in August HRK 5,673

The average net salary in Croatian corporate entities for August was HRK 5,673, which is 1.4% more (HRK 79) in...

Croatian-Norwegian media development project launched

The Media Development Centre, a joint project of the Croatian Journalists' Association (HND) and the Norwegian...

Presidents advocate enhancement of Azerbaijan-Croatia ties

Croatia and Azerbaijan are friendly countries and strategic partners that have developed good relations free of...