Minister Maric Claims Economic Recovery Won’t be Like 2008

Lauren Simmonds



Croatian Finance Minister Maric has sought to assure the public in saying that Croatia’s recovery from the current economic crisis we’re embroiled in, induced by the coronavirus pandemic, won’t be as difficult to come out of the other side of as the one which occurred back in 2008 was.

Everyone likely remembers the financial crash of 2008 and the tremendous economic consequences that followed. Many countries, particularly those with less economic strength in general struggled to make a comeback and get back on their feet after that event, and the Republic of Croatia is among those who were dealt a particularly harsh blow from which recovery took a long time.

As Poslovni Dnevnik writes on the 3rd of June, 2020 inance Minister Zdravko Maric recently stated that pensions would be paid by the time Corpus Christi rolls around, As for fiscalised receipts for the month of April, known as Croatia’s lockdown month, they are in the red by 40 percent, and in May there was significant recovery as the anti-epidemic measures were loosened, seeing them stand at somewhere around 18 percent in the red.

“When lockdown started, we said that the month of May might be more challenging. From the 1st to the 31st of May, the tax revenue index stood at 48.7 which is a drop of over 50 percent when compared to middle of last year’s tax levies.

It should be noted that the weekend in May was the end of the month. The numbers are better though, though I won’t try to embellish anything here either. Last year, the 31st fell on a Friday and this year the 31st fell on a Sunday, so we had two less working/business days to work with. When we include and add to the above figures what we were working with on Monday, then the tax revenue index is at the level of 60, so the decline stands at about 40 percent. Our recovery from this crisis will not be as difficult as the recovery we experienced back in 2008,” Minister Maric stated.

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