Speaking to reporters in Pula, Jakovcic said this was a critical moment for the country's future and that the latest credit rating downgrade "mirrors the inefficiency of running the state over the last dozen years."
It is time for a fundamental turnaround, he said, adding that it was hypocritical of the opposition to demand the government step down.
Jakovcic said reforms need not mean cuts and that the IDS proposed "an active approach" to reforms because "the crisis should be solved with incentives and not cuts."
He added that only new investments could solve the crisis and that in January parliament should pass a new law on strategic investments that would support the private sector as well domestic and foreign investments.
Jakovic said it was also necessary to create room for the most competitive economic sectors, encourage job creation, decentralise the country, and propose a consensus to the main stakeholders in the economy, such as the central bank, commercial banks, the biggest companies, the Employers' Association, the Chamber of Commerce, the Chamber of Trades and Crafts, and the unions, as well as to the opposition for one year.
"The stability and security of this state is at stake and nobody can play with that," he said, adding that the coalition leaders should shake hands again as soon as possible and embark on new reforms to justify the election victory over the next three years.
Tourism Minister Veljko Ostojic told the same news conference that the situation in the country was serious and worrisome, and that the credit rating downgrade was a sign that it was necessary to change the conduct and be more serious in decision making.
"We simply must start making decisions more quickly and more bravely. Tourism alone can't pull the country out of the crisis but it can and will contribute to investments and job creation," he said, adding that EUR 7 billion was expected to be invested in the sector by 2020.
Asked by the press to comment on the Croatian People's Party's (HNS) "new attack on the government of which it is part," Jakovic declined, calling for unity. "We can save this country only as coalition partners and even by talking with the opposition," he said.