Croatian parliament adopts 2011 budget.

By bne IntelliNews November 24, 2010
The parliament adopted the draft budget for 2011, envisaging a deficit of HRK 14.9bn (EUR 2.02bn) or 4.3% of GDP, news agency HINA reported. The projected budget revenues stand at HRK 107.4bn and the expenditures - at HRK 122.3bn. The biggest portion of the expenditures are for pensions (HRK 35.1bn) and public sector salaries (HRK 22.6bn). The Croatian Health Insurance Institute will receive HRK 20.2bn, down by 2.3% y/y. The parliament also approved the law on execution of the 2011 budget, which envisages borrowing of HRK 23.2bn with HRK 9.9bn to be used for servicing old debts. The draft budget is based on projections for a full-year GDP growth of 1.5% y/y in 2011.

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