CROATIAN MINISTER SAYS RECESSION, RISING UNEMPLOYMENT TREND HALTED

VIENNA, Dec 5 (Hina) - The trend of recession and growing unemployment in Croatia has been stopped, Public Works, Reconstruction and Construction Minister Radimir Cacic said at the congress "Croatia on the Path to the EU" at Vienna's Schoenbrunn castle on Thursday. #L# "Croatia's foreign reserves have doubled for the past two years, citizens' savings have doubled as well, while interest rates have been halved and are the lowest in all transition countries," Cacic said. He added the number of the unemployed registered with the Employment Bureau had decreased by 40,000 in the last six months. "Personally, I am not satisfied with the economic growth dynamic but these are certainly positive indicators," said Cacic. Introductory addresses at the congress which deals with Croatia's economic future were also made by the governor of the Austrian National Bank, Wolfgang Duchatcczek, and the head of the Vienna- based Institute for International Economic Studies, Michael Lanndesman. Lanndesman outlined Croatian economy indicators, comparing them to the economies of other countries in transition. "Croatia has significant macroeconomic difficulties and structural fiscal problems because of a high indebtedness," he said, announcing the possibility of reindustrialisation and increasing the effect of direct foreign investments in Croatia. (hina) ha sb