FINANCE MINISTER COMMENTS ON EBRD ECONOMIC GROWTH FORECAST

LONDON, April 23 (Hina) - Commenting on the latest estimate of the European Bank for Reconstruction and Development (EBRD) to the effect that Croatia's economic growth this year would amount to three percent, Croatia's finance minister said it should be viewed in the context of the entire region. Forecasts are good landmarks and safe signposts to investors but are not the only aspect determining the success of a national economy, Minister Mato Crkvenac told Croatian reporters in London, where he is heading a Croatian delegation attending the tenth annual EBRD assembly. According to Crkvenac, the time of rapid globalisation calls for striking a balance, securing a stable and sustained long-term economic growth, alongside an improved living standard, economic and social stability. We need a growth that will create new jobs, bring prosperity to all and not one that will increase the unemployment rate, he said. Against the EBRD forecast of a three-percent economic growth, the Croatian government forecast one of four percent, as noted in a memorandum adopted by the International Monetary Fund. According to the EBRD, inflation in Croatia this year should amount to 5.9 percent and foreign investments to $700 million. (hina) ha