Calculated Risk Has Made it Possible to Reactivate Economy, Says PM

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PM says calculated risk has made it possible to reactivate economy
PM says calculated risk has made it possible to reactivate economy

ZAGREB, September 8, 2020 – Prime Minister Andrej Plenkovic said on Tuesday that the intentional calculated risk in relaxing epidemiological measures enabled the reactivation of the economy and that the policy of reopening the country was based on expert estimates.

Asked by reporters on the margins of a convention of Croatian exporters whether the government’s calculated risk helped the tourism sector, while on the other hand it was detrimental to exporters due to a surge in new cases in the recent weeks, which was why some countries put Croatia on their quarantine lists, Plenkovic answered that without the reopening of the borders, there would not have been seven million visitors this summer and Croatia would not have achieved 50% of last year’s tourist industry turnover.

There would have been a complete lockdown and quarantine if there had been no calculated risk, Plenkovic said, recalling that currently no government in the world is in favour of a lockdown.

Commenting on the official extension of job retention measures and other forms of assistance to the economy affected by the corona crisis, the premier said that it was important to provide fast and ample help, and the state authorities had done so this spring when many businesses had been hit by the crisis.


Calibrating assistance by size of damage suffered

Now we are calibrating the assistance, there are measures for micro businesses, a shortened working week and assistance to the activities worst hit by the crisis, Plenkovic said, adding that he believed that his cabinet did it right.

The schemes and grants which are estimated to cost 800 million kuna are “an investment in the future of the Croatian economy and provides a start for the recovery,” he said.

Asked about the possible extension of moratoriums on enforced debt collection, Plenkovic said that the government had provided maximum assistance, however, loans and bills must be settled.

“Measures that can alleviate the situation are in place while on the other hand, there is no place for measures that can turn the whole situation into an endless write-off of debts, he explained.

Plenkovic welcomed today’s announcement that the local Infinum company and Germany’s Porsche Digital would invest €10 million in a joint company that will build digital products for the auto industry, and hoped that more similar companies will find their place in Croatia in the future.


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