:: seeurope.net View Story Tuesday, September 16, 2003
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ROMANIA: Nastase Pronounces for Exposing the Former Political Police_
CROATIA: Foreign Debt Will Reach 21 Bln By Year's End 2003-09-12 10:27:36
Croatian National Bank Governor Zeljko Rohatinski said yesterday that measures enacted earlier this year to curb imports had proven effective and had not raised interest rates. Rohatinski added he did not believe interest rates would rise in the coming months either. At the same time, imports have continued to increase, although at a slower rate. The balance of payments deficit, which is affected by imports, would be lower if foreign owned banks and businesses had not transferred a billion US dollars in profits out of the country this year, Rohatinski pointed out. Nearly half of that amount accounted for foreign business bank profits, HIC
reports. The Croatian National Bank believes that Croatia's foreign debt will continue to grow, reaching some USD 20.8 billion by the end of the year - an alarming 70 percent of the GDP. According to Rohatinski, there is no need for concerns if the growth of the deficit in the balance of payments can be curbed. www.seeurope.net Follow-ups IMF CROATIA: Mission Chief Urges Govt to Prevent External Debt Growth 2003-09-15 14:24:59
The present level of Croatia's external debt does not pose a direct threat to the economy but should be monitored closely, the head of the IMF mission to Croatia said Saturday, after a meeting with President Stipe Mesic. Hans Flickenschild urged the Croatian National Bank and the government to prevent external debt growth and reduce the deficit. On a positive note, he said economic growth is stronger than expected this year, while inflation is lower than expected, Southeast European Times reported. www.seeurope.net
SEE BUSINESS GREECE: Social Protection Spending at 27.7% of the GDP in 2002 2003-09-15 17:19:41 SERBIA AND MONTENEGRO: Industrial Production Down by 5.7 pct 2003-09-15 16:50:06 BULGAR...