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European Commission Tells Croatia to Make More Cuts

CroatiaCroatia must reduce its deficit to below 3% of its GDP, according to recommendations made by the European Commission to Croatia on Monday…

“Croatia is required to achieve an overall deficit target of 4.6% of GDP in 2014, 3.5% of GDP in 2015, and 2.7% of GDP in 2016.”, says the European Commission, adding that Croatia had been given a deadline of 30 April 2014 to “take effective measures and provide detailed reporting on the strategy of consolidation envisaged to achieve the recommended targets.”

The EU Commission expects Croatia to fulfil its target for 2014, and added that next year the government will have to implement structural reforms to met European Commission requirements, reports 24sata.

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