( Editorial: --> 0927 )
ZAGREB, 14 Nov (Hina) - At a session held on Friday, the Croatian
Government adopted a draft budget for 1998 proposing the overall
revenue of 36.8 billion kuna (US $6.13 billion), and the overall
expenditure of 38.8 billion kuna (US $6.46 billion), the Government
communications office said in a statement.
The Government has proposed a budget deficit of two billion kuna
(some US $333.3 million). As the gross national product in 1998 is
nominally estimated at 125.5 billion kuna (US $20.9 billion), the
budget deficit amounts to 1.6% of the GNP.
The budget current revenue is by 2.9 billion kuna (483.3 million
dlrs) higher than current expenditure, which means that the state
will realise savings (current surplus) amounting to 2.3%
of the GNP.
That current surplus allows capital expenditure (investments)
amounting to 5.3 billion kuna (883.3 million dlrs), which is 17%
more than in 1997.
Tax reduction in 1998 is expected to amount to 1.7 billion kuna
(283.3 million dlrs), which decreases the share of all taxes from
27.32% of the GNP in 1997 to 25.96% in 1998.
The Government has also adopted and sent into parliamentary
procedure plans on revenue and expenditure of extrabudgetary
funds.
The overall consolidated deficit in the budget and in
extrabudgetary funds in 1998 amounts to 2.2 billion kuna (366.6
million dlrs or 1.79% of the GNP), which is 800 million kuna less
than this year's budgetary deficit, which amounts to 2.67% of the
GNP, the statement said.
(hina) jn rm
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141841 MET nov 97
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