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Croatia Slashes Reserve Rate to Stimulate Growth

CroatiaCroatia’s National Bank Governor Boris Vujčić hopes that by slashing the reserve rate for banks will stimulate economic growth in the business sector…

Vujčić  confirmed on Thursday that Croatia’s reserve rate for banks will fall from 13.5% down to 12 %, as he hopes local companies will take advantage of the cut. Vujčić said that 3.9 billion kuna (693 million USD), would be freed from the reserves, making it easier for local companies to borrow money for projects. The cut is seen as a measure to try to stimulate much-needed economic growth and jobs in Croatia.

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