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Croatia: Excessive Deficit Procedure Ahead

Published: November 4, 2013; 19:39 · (Vindobona)

Neither in 2013 nor in 2014, Croatia will achieve a budget deficit below 3.0% of GDP.

Croatia: Excessive Deficit Procedure Ahead / Picture: © Flickr

Croatia´s fiscal situation is not only tense, but deteriorates further. In October, Croatia had to revise its 2012 budget deficit from 3.4% to 5.0% of GDP. This year, Croatia´s budget deficit is estimated to range between 4.0% and 4.5% of GDP. Next year, the youngest EU member country is expected to record a budget deficit of 5.5% of GDP, economist Vladimir Cavrak said. At the moment,…

This article includes a total of 450 words.

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