ZAGREB, Feb 19 (Hina) - Speaking to reporters after a meeting with Croatian government members on Friday evening, Arntraud Hartmann, World Bank director for Croatia, said the purpose of her visit was to establish priorities in
suggested and planned reforms in Croatia. The World Bank sees many potential areas of cooperation with the Croatian government, which is determined to quickly join the necessary reforms, she said. It is necessary to conduct pension and health reforms, speed up the privatisation process, and pay more attention to the banking sector and public spending, which should reach a sustainable level, Hartmann said. To continue excessive public spending would be fiscally unsustainable and throttle the economy in Croatia. The World Bank wants to provide assistance in the system of social care, so that problems in the pension and health reforms could be avoided, she said. Yesterday's meeting with
ZAGREB, Feb 19 (Hina) - Speaking to reporters after a meeting with
Croatian government members on Friday evening, Arntraud Hartmann,
World Bank director for Croatia, said the purpose of her visit was
to establish priorities in suggested and planned reforms in
Croatia. The World Bank sees many potential areas of cooperation
with the Croatian government, which is determined to quickly join
the necessary reforms, she said.
It is necessary to conduct pension and health reforms, speed up the
privatisation process, and pay more attention to the banking sector
and public spending, which should reach a sustainable level,
Hartmann said.
To continue excessive public spending would be fiscally
unsustainable and throttle the economy in Croatia. The World Bank
wants to provide assistance in the system of social care, so that
problems in the pension and health reforms could be avoided, she
said.
Yesterday's meeting with Croatian government officials focused on
infrastructure projects in Croatia, reorganisation and
privatisation in the sector of power industry, in large companies
and in the shipbuilding industry, as well as on the possibility of
privatisation in tourism.
Hartmann said the amount of funds the World Bank would grant to a
country depended primarily on that country's rating and its
readiness to negotiate individual projects and loans with the World
Bank. The World Bank is willing to increase the amount of funds
planned for Croatia for this year on condition this is requested by
the Croatian Government, the programme of reforms is healthy and
that it contributes to the development of Croatia's economy.
According to Hartmann, the World Bank and European Union are
planning to organise a large international conference in late March
this year, which would focus, among other things, on the financial
aspects of assistance to Croatia within the Stability Pact for
South-eastern Europe.
So far the World Bank has granted Croatia US$847 million of loans
for 22 projects.
(hina) rml