Croatian govt may discuss budget revision next week - deputy PM.

By bne IntelliNews March 14, 2013
Croatian government will probably discuss the 2013 budget revision next week, news agency HINA reported, quoting deputy PM and regional development minister Branko Grcic as saying. The government plans to make the revision in order to tighten its fiscal consolidation after major credit agencies cut Croatias rating over insufficient budget reforms. The World Banks newly-appointed country director for Central Europe and the Baltic Countries, Mamta Murthi, said last week that the government has to cut public spending. The IMF also urged Croatia to continue its fiscal consolidation efforts. At end-February it said that the government should continue to rapidly implement further adjustment policies that will put the budget back on the consolidation track and that will minimise risks stemming rising interest costs and public debt. Croatia's parliament adopted at end-2012 the country's 2013 budget, which targeted a deficit of 3.1% of GDP. The budget envisaged expenditures of HRK 124.5bn (EUR 16.5bn) and revenue of HRK 113.7bn.

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