ZAGREB, April 13 (Hina) - Croatia's Government on Thursday adopted measures for preparations for this year's tourist season. The Government accepted measures which should ease the burden on the shoulders of tourist companies that
incurred debts and losses, owing to unfavourable loans granted in the past nine years. A small number of firms will have to go into bankruptcy, due to an extremely grave situation, but the Government suggested that they file for bankruptcy after the end of this summer's session. This year the turnover in the tourist business is expected to climb by 25 percent, and foreign exchange earnings should come to some 3.5 billion US dollars, said Tourism Minister Pave Zupan Ruskovic. One of measures for the preparation is the rescheduling of loans commercial banks have granted to tourist companies. Possibilities will be considered whether the HBOR (Croatian Bank for Reconstruction
ZAGREB, April 13 (Hina) - Croatia's Government on Thursday adopted
measures for preparations for this year's tourist season.
The Government accepted measures which should ease the burden on
the shoulders of tourist companies that incurred debts and losses,
owing to unfavourable loans granted in the past nine years.
A small number of firms will have to go into bankruptcy, due to an
extremely grave situation, but the Government suggested that they
file for bankruptcy after the end of this summer's session.
This year the turnover in the tourist business is expected to climb
by 25 percent, and foreign exchange earnings should come to some 3.5
billion US dollars, said Tourism Minister Pave Zupan Ruskovic.
One of measures for the preparation is the rescheduling of loans
commercial banks have granted to tourist companies.
Possibilities will be considered whether the HBOR (Croatian Bank
for Reconstruction and Development) can postpone the settlement of
instalments of loans from the last year's programmes for
preparations for the 1999 tourist season. There is also a request
that by the end of this month the HBOR begins implementing a loan
programme, valued at least 230 million kuna ($28.75), for this
year's preparation.
The Government should settle obligations for last year's
assistance and subsidies as well as ensure means for this year's
support.
The Government has asked institutional owners of tourist firms to
change supervisory boards and management that can be held
responsible for the unsatisfactory state of affairs in some
companies.
(hina) mm ms