THREE-DAY CONFERENCE ON TRANSITION ECONOMIES OPENS IN DUBROVNIK

DUBROVNIK, June 25 (Hina) - A third international conference on economic and financial changes in countries in transition opened in the southern Croatian coastal town of Dubrovnik on Wednesday. The main issues discussed will be problems relating to the balance of payments, foreign exchange policy and the competitiveness of transition economies. The three-day conference, organised by the National Bank of Croatia, gathered more than 60 domestic and foreign experts, including those from the World Bank and the International Monetary Fund. Also attending were Croatian Prime Minister Zlatko Matesa, Deputy Prime Minister Borislav Skegro, Economy Minister Nenad Porges and Finance Minister Bozo Prka. In his opening remarks, National Bank of Croatia Governor Marko Skreb expressed satisfaction that for the third time a large number of people had gathered in Dubrovnik to discuss transition issues. Skreb said that the conference would discuss seven countries in transition, including Croatia, characterised by the openness of their economies. "Croatia's chance lies in openness and I believe that we do not have an alternative here because world finances are characterised by an increased volume of transactions and a high degree of globalisation and integration into world economic processes, and countries which fail to adapt to that will lag behind," Skreb stressed. Matesa said that the importance of the conference lay in the fact that it reflected Croatian and international experiences. Matesa described the results of the government's economic stabilisation programme, launched nearly four years ago, as "very good, even unexpectedly good." He said that Croatia had reached the level of macroeconomic stability. "Now it's up to us to bring everything we have so far achieved down to the micro-level, to the companies," the Prime Minister said. Speaking of the government's economic policy, Matesa said that it would be directed at completing the restructuring and recovery of the banking system. The rehabilitation of Privredna Banka Zagreb should be completed by next spring and the issue of savings deposits would be dealt with these days, Matesa said, adding that job creation would remain the main target of economic policy. The conference was also addressed by Dubrovnik County Prefect Jure Buric and Mayor Vido Bogdanovic. (hina) vm 251346 MET jun 97