ZAGREB, March 5 (Hina) - The results of a 'road show', a campaign aimed at the presentation and issuing of Croatian Euro-bonds in Europe's leading financial centres, which has just been finished, prove that over the past year Croatia
has been recognised as a politically stable country, that its government has a strong economic programme, and that it is a country where investments can be made without any major risk. This was stated by Vice-Premier Slavko Linic who spoke at the Days of Entrepreneurs, an event organised in Zagreb on Monday by the Croatian Employers' Association. "For the first time so far Croatia has managed to issue bonds on the European market with a period of ten years and annual interest rate of 6.75 percent," Linic said. Bonds worth a total of 500 million euros have been issued, although the order book on Monday contained requests for the issuing of 1.06 billion euro-worth of bonds. Linic expressed
ZAGREB, March 5 (Hina) - The results of a 'road show', a campaign
aimed at the presentation and issuing of Croatian Euro-bonds in
Europe's leading financial centres, which has just been finished,
prove that over the past year Croatia has been recognised as a
politically stable country, that its government has a strong
economic programme, and that it is a country where investments can
be made without any major risk.
This was stated by Vice-Premier Slavko Linic who spoke at the Days
of Entrepreneurs, an event organised in Zagreb on Monday by the
Croatian Employers' Association.
"For the first time so far Croatia has managed to issue bonds on the
European market with a period of ten years and annual interest rate
of 6.75 percent," Linic said. Bonds worth a total of 500 million
euros have been issued, although the order book on Monday contained
requests for the issuing of 1.06 billion euro-worth of bonds.
Linic expressed regret that most of the money would be used for the
payment of foreign debts and not development.
Croatia's strategy of development will be completed in May this
year and the beginning of accelerated privatisation of state-owned
companies will start this September, Linic said.
The government will direct its efforts toward the development of
small and medium businesses as it is the only segment which the
government believes can help reduce unemployment. Big state-owned
companies are not competitive and cannot survive on the market
without making further economies, and the only way out is small and
medium businesses, Linic believes.
This is why Croatia will seek loans worth some 500 million dollars,
which in the next two years will be used for developing small and
medium businesses, and the state itself will take over its share of
development risk by issuing guarantees, Linic said.
The Days of Entrepreneurs today saw the presentation of a
traditional award to last year's most successful county, this
year's winner being Istria County.
(hina) sb rml