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Croatia's 2017 budget sets deficit target at 1.9 pct of GDP

Xinhua, December 16, 2016 Adjust font size:

Croatian parliament on Thursday approved the 2017 budget that set deficit target at 1.9 percent of gross domestic product.

After rejecting all 132 amendments, 86 lawmakers in the 151-seat assembly voted in support of the budget, while 37 voted against and four abstained.

The budget projects revenues of 121.6 billion kuna (about 16.83 billion U.S. dollars) and expenditures amounting to 128.4 billion kuna (about 17.83 billion dollars) and a deficit of 6.8 billion kuna (940 million dollars) or 1.9 percent of GDP.

The budget is based on a 3.2 percent economic growth projection and the effects of a tax reform, and its implementation will begin in January.

The opposition criticized the government's revenue plan and growth prediction as overly optimistic. Endit