Croatia must step up fiscal consolidation, competitiveness ahead of EU entry-WB.

By bne IntelliNews April 25, 2012
Croatia should step up fiscal consolidation and structural reforms aimed at increasing the countrys competitiveness in order to be fully prepared for its EU entry in July 2013, news agency HINA quoted World Bank Director for Croatia Hongjoo Hahm as telling TV network Al-Jazeera Balkans in an interview in Washington. Hahm stressed that the government has to orientate to fiscal consolidation and sustainability. It needs to implement reforms, which will encourage private sector growth and privatisation, as well as increase its competitiveness. Hahm warned that the countries of Eastern Europe and Central Asia about the negative effects of the spillover of the eurozone crisis, adding that Croatia could hardly avoid such a scenario.

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