ZAGREB, Oct 29 (Hina) - Croatia's financial and banking sectors have reached a considerable level of stability, but there is still no development of the capital market regarding the volume of activities and possibilities for
investments in that market, said an economist, Zarko Primorac, this week.
ZAGREB, Oct 29 (Hina) - Croatia's financial and banking sectors
have reached a considerable level of stability, but there is still
no development of the capital market regarding the volume of
activities and possibilities for investments in that market, said
an economist, Zarko Primorac, this week. #L#
Primorac, who is one of members of the steering committee of the
Council for Development, held a key-note speech at the start of a
panel discussion on a level of development of the domestic capital
market, which the said council organised, last Wednesday in
Zagreb.
He said the Croatian market could be regarded as a developed one
only according to a criterion of a large number of participants in
it.
The figure that about 180 billion kuna, i.e. 90 percent of assets of
the entire Croatian financial sector, are in banks, which have a
small role in the capital market, testifies to a low level of
development of the capital market in the country, said another
participant in the discussion, the chairman of the board of
directors of the AZ compulsory pension fund, Dinko Novoselec.
According to him, some people assert that pension funds are playing
a very important rule in this field. However, they hold only four
billion kuna (merely two percent of all assets of the financial
sector), in Croatia.
(1EUR = 7.6 kuna)
(hina) ms