IMF DELEGATION VISITS CROATIAN NATIONAL BANK

ZAGREB, Dec 13 (Hina) - The visit of a delegation of the International Monetary Fund, headed by Hans Flickenschild, to the Croatian National Bank, continued with talks on recent and expected economic and financial trends in Croatia. The IMF Mission will stay in Croatia for a week, the Croatian National Bank (HNB) said in a statement Wednesday. HNB governor Zeljko Rohatinski said the nine-month deficit in trade were about US$500 million less than in the same period last year, with the best results being registered in tourism. In the third trimester a surplus was realised on the current balance of payment account, which neutralised the deficit from the first half of the fiscal year. It can, thus, be expected that this year's current balance of payment account deficit would not be greater than five per cent of the Gross Domestic Product. Despite unfavourable indicators on the trends of industrial production in the past two months, it is estimated this year's GDP increase could exceed three per cent. Following previous talks, a slowing down of inflation occurred in the field of prices. The foreign exchange liquidity of the country is satisfying, the foreign exchange reserves continue to indicate a growth tendency. IMF Mission representatives were informed about the new regulations in the monetary and financial spheres, such as the HNB's draft law forwarded to the parliament, the foreign exchange draft law is on the same path, and work will soon start on a new law on banks. (hina) lml