Croatia set to tighten fiscal responsibility

Croatian Finance Minister Zdravko Maric on Tuesday announced amendments to the Fiscal Responsibility Act in a bid to make the existing fiscal rule stricter, reinforce public finance management at all levels and to empower the Fiscal Responsibility Commission.

Addressing an international conference on public sector management, organised in Zagreb by the business newspaper "Lider", Maric said that his ministry was preparing amendments to the fiscal responsibility legislation with three objectives.

First, it is necessary to tighten the existing fiscal rule regulating that the annual growth rate in the general government budget expenditure must not be higher than the projected annual GDP rate.

Second, it is envisaged to strengthen rules for public finance management at all state levels.

Third, it is necessary to enhance the fiscal responsibility commission that works within the parliament and which consists of independent experts.

Public Administration Minister Dubravka Jurlina Alibegovic said enhancing the entire public administration system was one of the topics of the public administration reform, included in the National Reforms Programme.

Likewise, according to her, it is important to monitor the performance and results in the spending of public finances.

She recalled that an element of the Programme relates to compiling a list of state agencies that could be merged specifying scheduled deadlines.

Last update: Tue, 24/05/2016 - 13:34

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