PULA, June 4 (Hina) - Addressing a conference organised by the Croatian accountants' association in Pula on Thursday, a state secretary in the Finance Ministry, Zdravko Maric, said Croatia had successfully fended off the first blow of
the financial crisis thanks to the government's timely measures and monetary authorities' efforts, good legislation and the development level of the domestic financial market.
PULA, June 4 (Hina) - Addressing a conference organised by the
Croatian accountants' association in Pula on Thursday, a state secretary in the
Finance Ministry, Zdravko Maric, said Croatia had successfully fended off the
first blow of the financial crisis thanks to the government's timely measures
and monetary authorities' efforts, good legislation and the development level
of the domestic financial market. However, the global crisis has
affected Croatia's macroeconomic trends, which is why the Croatian economic
activity and economic growth have shrunk, Maric said.
The head of the Croatian economists' association and member of the
Economic Council, Ljubo Jurcic, said "it is wrong of us to think the crisis in
Croatia was a consequence of the global crisis".
Our crisis is the consequence of higher consumption that production for
years, said Jurcic.
"Croatia has its own crisis as a result of the domestic policy which
created more favourable conditions for importing and not working than for the
domestic production," he said.