CROATIA REALISES LOWER DEFICIT IN 1997

( Editorial: --> 3073 ) ZAGREB, Jan 8 (Hina) - The Croatian budget deficit for 1997 is much lower than planned. At US$175 million it is only 38 per cent of what was planned and amounts to less than one per cent of the gross domestic product. The collection of government revenues was better than planned, while expenditure was lower. According to a report of the Croatian Government's Communications Office, income tax receipts in 1997 were 2.7 per cent lower than in 1996, profit tax receipts were 40.4 per cent higher, and property tax receipts were 41.3 per cent higher. As the principal source, receipts from turnover tax on goods and services marked a 12.1 per cent nominal growth or 8 per cent in real terms. Expenditure tax remained at the same level as in 1996, while customs revenues were 17.7 per cent higher. Revenue from privatisation and property selling was 75 per cent lower than in 1996. Considering that total budget expenditure was 3.9 per cent lower than planned, in 1997 Croatia realised a lower deficit and lower sales of property than planned in the budget, the Government's report concluded. (hina) ha jn 081718 MET jan 98