ZAGREB, May 29 (Hina) - The central state budget collected revenues worth 69.87 billion kuna in 2002, or 99.5 percent of planned revenues, while expenditure came to 73.74 billion kuna and covered 99.07 percent of planned spending,
Finance Minister Mato Crkvenac said on Thursday, briefing the Croatian government on a report on the 2002 budget execution.
ZAGREB, May 29 (Hina) - The central state budget collected revenues
worth 69.87 billion kuna in 2002, or 99.5 percent of planned
revenues, while expenditure came to 73.74 billion kuna and covered
99.07 percent of planned spending, Finance Minister Mato Crkvenac
said on Thursday, briefing the Croatian government on a report on
the 2002 budget execution. #L#
Crkvenac spoke about macroeeconomic indicators saying that the
country registered a 5.2 percent growth rate in Gross Domestic
Product, while the inflation rate was 2.2 percent with a stable
exchange rate. In addition, Croatia's foreign currency reserves
rose by 1.18 billion to 5.8 billion dollars.
According to the report, adopted by the government, the budgetary
deficit of the entire state was reduced from 6.3 percent of Gross
Domestic Product in 2000 to last year's 4.7 percent of GDP when it
came to 8.27 billion kuna. A deficit without extra-budgetary funds
was 3.87 billion kuna, and of this figure, 1.6 billion was on the
domestic market. Over two billion kuna from the structure of
deficit of the consolidated budget referred to investments of the
Croatian Highways company.
According to the report, public debt came to 52 percent of GDP,
while the external debt came to 23.6 percent.
The blame for the high external debts should be placed on commercial
banks which borrowed funds abroad to finance a rise in loans. The
second biggest debtor in this field are companies, followed by the
state, according to highlights from the macroeconomic environment
in 2002.
Last year, bank loans climbed by 31.2 percent with a 44 percent rise
in loans granted to citizens and a 22.7 percent rise in loans given
to companies. This led to an increase in spending and investments
and an increase in imports.
The number of employed Croatians was 1.34 million on the average
last year, or by 1.2 percent up from 2001. The unemployment rate,
calculated by criteria of the International Labour Organisation,
fell from 16.3 to 14.4 percent.
(hina) ms sb