ZAGREB, April 29 (Hina) - Croatia's total public debt - both foreign and domestic - in February this year amounted to 97.7 billion kuna and it is estimated that Gross Domestic Product for this year will amount to 189 billion kuna.
That means that the national total debt is equal to 51.7 per cent of GDP, Finance Minister Mato Crkvenac said on Tuesday.
ZAGREB, April 29 (Hina) - Croatia's total public debt - both foreign
and domestic - in February this year amounted to 97.7 billion kuna
and it is estimated that Gross Domestic Product for this year will
amount to 189 billion kuna. That means that the national total debt
is equal to 51.7 per cent of GDP, Finance Minister Mato Crkvenac
said on Tuesday. #L#
The total public debt of 97.7 billion kuna at the end of February
included debts incurred by the central government, local
government units, Croatian Roads and Croatian Highways, pension
and health insurance funds, the State Agency for Insurance of
Savings and Rehabilitation of Banks, the Croatian Bank for
Reconstruction and Development (HBOR), the Croatian Privatisation
Fund as well as state guarantees that have been issued, Crkvenac
said.
He pointed out that fiscal policies will continue to decrease the
budget deficit. The deficit incurred by the central government in
1999 amounted to 7.4 per cent of the GDP. This year that figure will
be decreased to 2.2 per cent and it is expected that by 2004 it will
be one (1) - 1.5 per cent, Crkvenac said, adding that this would
continue to decrease Croatia's debt.
He emphasised that the objective of fiscal policies next year will
to continue with fiscal savings. The tax system has been completed
and advancements in the tax system will be to motivate and
stimulate, he said.
(hina) sp ms sb