ZAGREB, July 9 (Hina) - Croatia's economy accomplished the positive consolidated financial result in 2001 for the first time since the country's independence. The pre-tax profit was higher than the loss by 3.2 billion kuna (438
million euros), experts said at Tuesday's presentation of a special issue of the "Privredni Vjesnik" journal.
ZAGREB, July 9 (Hina) - Croatia's economy accomplished the positive
consolidated financial result in 2001 for the first time since the
country's independence. The pre-tax profit was higher than the loss
by 3.2 billion kuna (438 million euros), experts said at Tuesday's
presentation of a special issue of the "Privredni Vjesnik" journal.
#L#
The entire results of the Croatian economy and 400 leading
companies show positive trends, said Professor Zarko Primorac, an
analyst of the journal.
He corroborated his claim by data on the increase in the entire
income of the Croatian economy by 13.4 percent (343 billion kuna or
EUR47 billion), a net profit with an increase of 14.3 percent to
14.8 billion kuna (two billion euros), whereas the net loss dropped
by 16.6 percent (11.5 billion kuna or EUR1.57 billion) in 2001 in
comparison to 2000.
Primorac also highlighted some negative trends such as a fall of the
number of employed persons and the stagnation in the exports with a
climb in imports.
Companies still suffered from insolvency and 33,000 were blocked.
The technological level of the economy was on a descending line, and
the restructuring was lagging behind.
That's why Primorac pointed to employment, exports and the re-
industrialisation as major problems.
Investments are a pre-condition for creation of more jobs, but
those who create jobs are dynamic companies, Primorac said.
He warned about the slow-down motion in export. Only Serbia and
Macedonia had a lower increase than Croatia in this segment in the
last 10 years, the professor added.
He also spoke about the problem of de-industrialisation. The share
of the industry in the Gross Domestic Product is currently about 20
percent, while the entire industrial production makes up 60 percent
of the pre-war industrial production. He urged reindustrialisation
in the industry of services and the one based on the know-how.
On Tuesday for the eighth consecutive year the said journal and the
Financial Agency known as FINA on Tuesday presented their analysis
and the standings of the 400 best companies.
These firms, accounting for less than one percent of the total
number of firms, employ 36 percent of workforce in the entire
economy, and make up almost one half of the total income and over
half (54) percent of profit. They possess three quarters of the
capital and reserves in the economy.
At the top of the list of the most successful companies regarding
the entire earnings, is INA (Oil Industry). It is followed by the
Power Industry (HEP), Croatian Telekom, Pliva (pharmaceutical
company) and Konzum (a chain of stores).
Pliva is the first ranked according to a pre-tax and net profit. It
is followed by INA, the Tobacco Factory in Rovinj, Croatian Telekom
and Zagrebacka Pivovara (brewery in Zagreb).
(hina) ms sb