LONDON LONDON, Sept 24 (Hina) - The British-Croatian Chamber of Commerce presented Croatia's economy in London on Thursday. Croatian National Bank (HNB) governor Marko Skreb outlined Croatia's monetary policy. Skreb said the HNB was
committed to the policy of the stability of prices, and categorically rejected calls for solutions such as "programmed inflation", fixed foreign currency rates and the resulting devaluation of the kuna. The governor said the current account deficit, cited as the principal source of danger for the kuna, was systematically decreasing. Had it not been for the Kosovo crisis, it would have dropped from last year's 7.8 percent to 6.5 percent of the Gross National Product, he said. Skreb believes the answer to a decreased current account deficit cannot lie in fixed exchange rates and devaluation, but only in increased productivity which, he said, can be achi
LONDON, Sept 24 (Hina) - The British-Croatian Chamber of Commerce
presented Croatia's economy in London on Thursday. Croatian
National Bank (HNB) governor Marko Skreb outlined Croatia's
monetary policy.
Skreb said the HNB was committed to the policy of the stability of
prices, and categorically rejected calls for solutions such as
"programmed inflation", fixed foreign currency rates and the
resulting devaluation of the kuna.
The governor said the current account deficit, cited as the
principal source of danger for the kuna, was systematically
decreasing. Had it not been for the Kosovo crisis, it would have
dropped from last year's 7.8 percent to 6.5 percent of the Gross
National Product, he said.
Skreb believes the answer to a decreased current account deficit
cannot lie in fixed exchange rates and devaluation, but only in
increased productivity which, he said, can be achieved through
higher direct foreign investments.
According to John Rourke, the director of the British-Croatian
Chamber of Commerce, at tonight's presentation the international
financial community showed increased interest in Croatia.
Among the 115 guests present were representatives of 22
international investment firms and banks.
(hina) ha