Grcic comments on EC's growth forecast

Branko Grcic, a Social Democratic Party (SDP) member of Parliament and deputy prime minister in charge of economic affairs in the previous government, on Thursday commented on the upward revision by the European Commission of growth projections for Croatia from 1.4 to 2.1 per cent in this year, saying that these were good parameters and that the previous government had done a good job.

"All these are very good parameters. Yesterday's report (by the Croatian Bureau of Statistics) saying that personal consumption has been on the rise for 17 months in a row indicates that the recovery began even before 2015. This is an additional confirmation that our government was doing a good job," Grcic told the press in the Parliament building.

Grcic said that there were great expectations from the new government to follow in the footsteps of the previous one, maintain the present trends and achieve the projections for 2016 and 2017.

"Last year growth was 1.8 per cent and we reduced the deficit by 1.4 per cent of GDP in just one year. The Commission forecasts that the deficit will be reduced by one per cent over 2016 and 2017, so you can imagine the effort that was made already in 2015. It is assessed that even the much-talked-about public debt considerably slowed down in 2015 primarily thanks to the deficit reduction," Grcic said.

Last update: Thu, 04/02/2016 - 15:57

More from Croatia

Croatian PM going to Bosnia with messages of support

Croatian Prime Minister Andrej Plenkovic said on Thursday he would give two key messages during his visit to Bosnia...

FinMin says tax reform effect in 1st year up to HRK 2b

The effect of the draft tax reform in the first year will range from HRK 1.9 billion to 2 billion but the lower...

PM sees tax reform as one of most important in this gov't term

Prime Minister Andrej Plenkovic said at the government session on Thursday that tax reform was of the the most...

PM: Coming to terms with past important for democratisation

Croatia's Prime Minister Andrej Plenkovic has said that his cabinet deems that coming to terms with the legacy of...

Banking association calls for forming task force to deal with debts in arrears

The Croatian Banking Association (HUB) proposes the establishment of a task force in charge of elaborating a...