CONFERENCE ON CENTRAL BANKING & MONETARY POLICY IN TRANSITION OPENS IN DUBROVNIK

OPENS IN DUBROVNIK ( Editorial: --> 3513 ) DUBROVNIK, June 24 (Hina) - The fourth international conference on central banking and monetary policy in transition began in the south Croatian seaport of Dubrovnik on Wednesday. The conference was organised by the Croatian National Bank (HNB). Speaking about monetary mechanisms in Croatia and connections with international financial trends, the executive director of research and the statistics department at the HNB, Velimir Sonje, said the deficit on the balance of payments current account will this year be reduced to about seven per cent of the gross national product. Last year, the said account was about 12 per cent of the GNP. The reduction is the result of monetary and fiscal policy measures, Sonje said. The same policy will ensure a reduced need for debt accumulation abroad, as well as a relatively high growth rate, he added. (hina) ha jn 242243 MET jun 98