Croatia is set to receive slightly more than €22 billion in combined funds from the EU’s Multiannual Financial Framework and the “Next Generation EU” coronavirus recovery fund.
In an interview for Croatian Television today, Finance Minister Zdravko Marić commented on how the corona-crisis is affecting the revenues side of the budget: "When we adopted the budget revision, when we had a better understanding of the circumstances surrounding COVID-19 and its effect on the economy, we projected a budgetary deficit of some 25 billion Kuna, and our needs for financing grew from roughly 30.5 billion Kuna, to 64 billion Kuna. Under these circumstances, we can happily say that we have effectively met all of our financing needs for 2020."
Minister Marić also commented on the EU's 750 billion Euro "Next Generation" recovery fund, calling it a very big opportunity for Croatia and European as a whole to make a bold step forward. He went on to explain how Croatia plans to put its share of the funds to use.
"I see this program and all of its elements as an opportunity for the Croatian economy and subsequently society as a whole, to achieve a quality transition and take strong step forward. Our fundamental idea is to create conditions on the national level for the quality implementation of a few strong national and recognizable projects. And let's not forget a balanced rural development, which is one of our guiding principles. But, there is also the private business segment, where we want to maximize our use of the funds, so that these grants or loans, make their way to the forces driving our economy and investment," the minister concluded.
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