Prime Minister Cites Good Economic Numbers

Total Croatia News

At the last meeting of the cabinet before summer break, Prime Minister Orešković lists some of the achievements of his government.

Outgoing Prime Minister Tihomir Orešković said at the cabinet meeting on Wednesday that the economic growth this year could reach as much as 2.5 percent, which would be more than what was expected previously, since all major indicators, from industrial production and consumption to employment, demonstrate a high level of growth, reports N1 on July 27, 2016.

In this year’s budget, “we planned economic growth of about 2 percent, but I think we will end up with a growth of about 2.5 percent, since all indicators are positive”, said Orešković. Industrial production in the first five months rose by 5.4 percent year on year, spending by 3.4 percent, tourism by 7 percent, and even the construction sector grew, added Orešković. “The number of employed people in the first six months has increased by more than 100,000, while the unemployment rate is constantly decreasing.”

The withdrawal of EU funds was 53 percent better than in the same period last year, said the Prime Minister. He also added that revenues from privatization, with the aim to reduce the public debt, have increased by 400 million kuna, and it remains to be seen whether the state shares in Sunčani Hvar and Imperial Hotels will be sold, which could bring in approximately another 400 million kuna, said the Prime Minister.

He also said that in the first six months of this year the budget deficit stood at 2.4 billion kuna, which is 5.1 billion kuna less than in the same period last year. This is just a third of the deficit from the same period last year, and represents just 0.7 percent of gross domestic product, said Orešković.

The budget revenues amounted to 56.3 billion kuna, which is 10.5 percent more than in the same period last year, which Orešković described as “fantastic”. Budget expenditures amounted to 58.6 billion kuna, or about 0.4 percent more than last year, while the primary surplus was 3 billion kuna, which is an excellent result, according to Orešković.


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