Just as the United States are in quite the recession, Croatia is as well. In order to attempt to reverse this, Croatia's Prime Minister Ivo Sanader has created a couple of new policies. Some of the different plans include increased borrowing, as well as an increase in the national budget deficit.
Besides these specific plans regarding a change in their budget plan, the PM also stated that their government would create an amended budget that will begin in the second half of march.
This plan was confirmed at the end of February and clearly shows how governments and countries even other than the United States are having difficulties during this economic struggle. Croatia hopes that these new plans will stop the recession in their country, as well as prevent future possible economic destruction.
Some of the bank support that Croatia is asking for is from the Croatian Bank for Reconstruction and Development (HBOR). Croatia also plans to use its popularity in tourism in order to regain a good economic standpoint. Some of ther other plans that will be implemented is both lower taxes, as well as a reduction in deadlines for payments of public companies.
Jennifer McKenzie
CROATIA group
Sunday, March 15, 2009
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