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Government sends to parliament amendments to law on foreign exchange legal transactions

Autor: ;half;
SISAK, Oct 26 (Hina) - The Croatian government decided at a session in Sisak on Thursday to send to parliament for adoption a bill of amendments to the law on foreign exchange transactions which will repeal, as of early 2009, the law's restrictive provisions, including those limiting how much cash can be taken in and out of the country.
SISAK, Oct 26 (Hina) - The Croatian government decided at a session in Sisak on Thursday to send to parliament for adoption a bill of amendments to the law on foreign exchange transactions which will repeal, as of early 2009, the law's restrictive provisions, including those limiting how much cash can be taken in and out of the country.

The liberalisation will be carried out in three stages and full liberalisation of capital transactions and cash payments will be achieved in 2009, said Finance Minister Ivan Suker.

In the first stage, the law will enable foreigners to purchase central bank and Finance Ministry securities through foreign brokers, while Croatians will be able to buy securities abroad through foreign and not only domestic brokers.

This bill of amendments is part of adjustment of Croatian legislation to European Union standards.

Another law to be adjusted is a bill on tourist services, which aims to suppress undeclared work and the informal economy, and protect consumers.

Under the bill, tourist services may be provided by public institutions managing national parks and health resorts, and EU citizens may work as tourist guides.

The government also adopted a conclusion on the transfer to the Croatian State Archive of material resulting from the work of the Government of the People's Republic of Croatia and the Executive Council of the Parliament of the Socialist Republic of Croatia between 1945 and 1990.

Today's session in Sisak was the 18th the government held outside Zagreb and confirms the government's commitment to the balanced development of the entire country, said Prime Minister Ivo Sanader.

(Hina) ha

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