HNB governor: 2016 budget within expected limits

Croatian National Bank (HNB) Governor Boris Vujcic said on Friday that the proposed 2016 budget was within expected limits and that the HNB too estimated that this year GDP would grow at a rate of about two percent.

Vujcic held a lecture at the Faculty of Economics in Rijeka on the impact of the monetary policy on Croatia's competitiveness. 

When asked by the press for a comment on the budget proposal, he said: "It's roughly within expected limits. Expenditure remained more or less at last year's levels, which will lead, partly due to revenue growth and partly due to economic growth, to budget adjustment and the budget deficit decreasing to about or below 3% of GDP."

Asked if 2% growth, on which the budget is based, was realistic, Vujcic said that the central bank also estimated the GDP growth rate for this year at 2%. "Considering our growth projection and this budget, a budget revision should not be expected," he added.

Last update: Fri, 11/03/2016 - 15:42

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...