Prospects for Croatia’s strong recovery from recession and return to the pre-recession growth rates are slim unless the country vigorously moves forward in addressing the structural weaknesses of its economy, according to the World Bank’s new Public Finance Review: Restructuring Spending for Stability and Growth report.
Croatia and the EU
Minister of Finance, Boris Lalovac and the World Bank’s Regional Director for Central Europe and the Baltic Countries, Ms. Mamta Murthi today signed a Loan Agreement in the amount of EUR75 million (US$103.5 million) for the Improving the Quality and Efficiency of Health Services Program for Results, The Program will be implemented by the Ministry of Health, the Croatian Institute for Health Insurance, the Agency for Quality and Accreditation in Health Care and Social Welfare, and overseen by the Ministry of Finance.
Minister of Finance, Slavko Linić and the World Bank’s Country Manager for Croatia, Hongjoo Hahm, today signed a Loan Agreement in the amount of EUR150 million (US$206.8 million) for the Second Economic Recovery Development Policy Loan to the Republic of Croatia.
The loan is aimed at supporting the Government of Croatia’s efforts in accelerating sustainable economic recovery through the consolidation of public finances and the strengthening of the investment climate. The World Bank’s Board of Directors approved the loan yesterday, April 29th.