PM Andrej Plenković: Standard & Poor’s Report Confirms Stable Situation in Croatia

The Standard & Poor’s agency has affirmed its ‘BBB-” credit rating on Croatia, with the stable outlook, the government stated earlier on Tuesday.

The credit agency’s report says that Croatia’s stable political climate and plans to enter the euro area are conducive to reform efforts. The agency projects a general government deficit of 2.9% of GDP in 2021. It also expects Croatia’s debt to resume falling and go below 80% of GDP until the end of 2024.

During his visit to Varaždin County, Plenković said that he found it interesting that the credit agency, the EC and some other analyses show that they are aware how much his cabinet had done in the first stage of its term, that is before the COVID-19 pandemic.

In this context he pointed to “a sound and responsible management of the public finances” and the rapid curtailment of the debt.

Plenković also underscored that last July, Croatia entered the European Exchange Rate Mechanism II.

Asked by the press about the latest statement from the Croatian Employers’ Association (HUP) that employers were not engaged in the elaboration of Croatia’s National Plan for Recovery and Resilience (NPOO), Plenković said that the purpose of the plan is to make use of the 6.3 billion euros of non-repayable grants and after that an additional 3.5 billion euros will be at the disposal through loans.

In the period between those two steps we will focus on the preparation of the new multi-annual financial framework where 12.7 billion euros awaits us, Plenković said, adding that in the end a sum f 30 billion euros wll be available in the next ten years.

Commenting on all those amounts, Plenković said that “this is a true lever for the economic growth and investments as well as for making the economy more resilient.”

When it comes to the structure and speculations about how much could be funnelled to the private sector, Plenković said that about 95% of those 6.3 billion euros would end up in the private sector either directly or indirectly.

We are working on the national recovery and resilience plan that has to satisfy three components: 37% of green transition, 20% of digital transition and to make sure that those projects will not be detrimental to some other criteria of the Green Deal, the premier said and announced the presentation of the draft plan for next week.

For more about politics in Croatia, follow TCN’s dedicated page.

 

Subscribe to our newsletter

the fields marked with * are required

Email: *
First name:
Last name:
Gender:	Male Female
Country:
Birthday:	[DD] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 [MM] 1 2 3 4 5 6 7 8 9 10 11 12 [YYYY] 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Please don't insert text in the box below!