ZAGREB, Nov 13 (Hina) - The government is satisfied with remarks in the second review of the International Monetary Fund on Croatian economic indicators, Finance Minister Mato Crkvenac said on Thursday.
ZAGREB, Nov 13 (Hina) - The government is satisfied with remarks in
the second review of the International Monetary Fund on Croatian
economic indicators, Finance Minister Mato Crkvenac said on
Thursday. #L#
Yesterday the IMF Executive Board completed its second report on
economic indicators in Croatia under the 14-month Stand-By
Arrangement between Zagreb and the Fund.
According to a press release issued by the IMF, Croatia continues to
enjoy robust economic growth, price stability, and rising
international reserves. Since the first stand-by review, real GDP
growth has been higher and retail price inflation lower than
expected.
Crkvenac said the IMF noted that the current account deficit had
begun to decline due to an excellent tourist season.
The IMF, he said, suggested the continuation of the policy of
reforms which would further contribute to the reduction of the
current account deficit, and urged the continued restructuring of
the economy and privatisation of public enterprises.
There is no mention of creeping instability or anything like that,
the Croatian minister said.
He added that the present economic policy would make it possible for
the country to meet the Maastricht criteria until 2005.
The stand-by deal, amounting to about US$151 million, was approved
in February this year. The Croatian authorities continue to treat
the arrangement as precautionary and do not intend to draw the
available financing.
(hina) ms