Croatia is near the top of the list of European countries when it comes to wealth of state-owned assets in its possession, but when it comes to generated earnings from those assets it finds itself near the bottom of the list, reports Dnevnik.hr.
Croatia has in its possession assets worth 31.4 billion euros, a portfolio which includes real estate, land and state-owned companies, putting it in 5th place in Europe for the amount of assets at its disposal. Only Norway, Finland, Island and Sweden are ahead of Croatia.
But, the tables are turned however when earnings from assets is ranked, leaving Croatia near the bottom of the list. Whilst the Scandinavian nations on the list earn billions of euros annually from state-owned assets, Croatia earns just 300 million euros, which is only 0.7% profit.
The Croatian government has announced that it will this release its strategy for the management of state-owned assets. The plan is to increase profits from 0.7% to 2% by 2015 on its assets. In the next three years the government plans to give concessions on some state-owned companies or find investment partners. Strategic monopoles such as Croatian Water and Croatian Forests will stay in state ownerships it says.