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Old November 17th, 2014 #84
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EU Dissatisfied With Croatia’s Progress

Insufficient measures, reform process is too slow

(ANSA) — ZAGREB — The European Commission has renewed criticism of Croatian economic and financial policy, saying that the measures which were taken in recent months by the government to correct macroeconomic imbalances are “partial, limited and uneven in the different areas”.

Since February, only eight months after Croatia’s Eu accession, the country had been kept under observation for excessive deficits and then Brussels put forward a number of recommendations to be turned into economic policies, in order to reduce the national debt and expenses. According to the Commission’s report the progress which has been made is partial, slow and not systematic enough. The main concerns are related to the uncertain introduction of a tax on real estate since 2016, and the lack of measures to ensure that pensions and health system are stable. Among the obstacles to improving competitiveness of the Croatian economy are the lack of efficiency of public administration, the judicial system and corruption.

Brussels has viewed the labour reform very favourably, following the adoption in July of some changes aimed at improving flexibility, underlining that unemployment in August fell for the sixth consecutive month, reaching 17.5%. At the same time, however, the overall employment rate fell by 2.1%.