Croatian opposition, experts slam Croatia's 2010 budget
Zagreb - Croatia's budget for 2010, which projects slight economic recovery, a 2.5-per-cent deficit and 3 per-cent inflation, drew fire from the opposition and economic experts alike Wednesday.
Parliament adopted the budget that Prime Minister Jadranka Kosor's cabinet had based on expectations of a 0.5-per-cent growth next year, 0.1 per cent more the International Monetary Fund had forecast.
The deficit of some 8.4 billion kuna (1.75 billion dollars) translates to 2.5 per cent of gross domestic product GDP.
The opposition criticized the budget as 'wasteful,' saying the cabinet's projections were overly optimistic and warned that it would quickly require a re-balance.
'The budget is nominally the same as this year,' the opposition Social Democratic leader Zoran Milanovic said. 'The government demonstrates a lack of will, ability and courage to embark reforms.'
Independent economic experts also estimated that the revenue side of the budget appears too hopeful, while the spending remained untouched in comparison to past years.
'The shortfall will be much bigger than the projected 9 billion,' Ante Babic, director of the Zagreb-based Centre for International Development institute, told the internet edition of the Banka magazine.
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Oct 28, 2024 13:53:20 GMT -5