Croatia won’t hit budget deficit target

The EU, which Croatia joined in 2013, initiated in January 2014 an excessive deficit procedure (EDP) against Croatia in a push to ensure Croatia brought its budget deficit and public debt back into line with EU requirements.

Prime Minister Zoran Milanovic said on the 1 August 2014 that Croatia would not be able to meet a budget deficit target agreed with the European Commission for 2014 because of high public spending.

ESO: Background information: Council opens excessive deficit procedure for Croatia http://www.europeansources.info/record/press-release-council-opens-excessive-deficit-procedure-for-croatia/

European Commission: DG Economic and Financial Affairs: EU Economic situation: Economies of the Member States: Croatia http://ec.europa.eu/economy_finance/eu/countries/croatia_en.htm

---