Croatia: 2012 Budget Deficit Revised

Politics ♦ Published: October 23, 2013; 18:22 ♦ (Vindobona)

Because of the different EU methodology, Croatia had to revise its budget gap. The fiscal situation remains critical.

Croatia: 2012 Budget Deficit Revised / Picture: ©

After an initial estimate of 3.4% of GDP, the 2012 budget deficit was revised to 5% of GDP. This year, Croatia´s budget deficit will reach 4.5% of GDP, the Croatian Ministry of Finance stated. At the moment, Croatia´s public debt quota comes at 66% of GDP. This year, the deficit is expected to come at 4.5% of GDP.

Since 2008, Croatia´s economy did not show any progress. This…