(Photo: Patrik Macek/PIXSELL) (Photo: Patrik Macek/PIXSELL)

This marks the second year in a row that Croatia has generated a budget surplus; while the public debt to GDP was reduced to 74.8%.

Croatia became one of fourteen European Union member-states who registered a government budget surplus in 2018, according to data provided by the European Union's statistical office Eurostat on Monday.

The 2018 surplus was mostly driven by the considerably improved financial result of extra-budgetary beneficiaries and public companies and by increased tax revenues.

Investments also grew, increasing by 13.36 billion kuna, up more than 30%, compared to the previous year.

Last year's consolidated general government debt was the lowest level since 2012 when it accounted for less than 70% of the GDP.

Source: HRT