December 8 (SeeNews) - Croatia will issue up to 25.4 billion kuna ($3.6 billion/3.4 billion euro) in bonds in 2017 to cover its budget deficit and finance due obligations, the finance minister said on Thursday after the government adopted the budget framework for next year.
The government also plans to seek up to 8.3 billion kuna in loans on the domestic and foreign markets, Zdravko Maric said during a government session aired live by broadcaster HRT.
It also hopes to raise some 1.4 billion kuna from privatisation.
Croatia's government targets a budget deficit of 6.8 billion kuna, equivalent to 1.9% of the country's GDP, Maric also said.
Budget revenues are planned to reach 121.6 billion kuna in 2017, while expenditures are seen at 128.4 billion kuna.
The fiscal blueprint is based on projections for economic growth of 3.2% in 2017, Maric also said.
Tax revenue in 2017 is seen at 72.8 billion kuna. Revenues from aid, notably EU funds, are planned to amount to 11.2 billion kuna, and revenues from state assets are projected at 2.7 billion kuna.
Compared to preliminary data available for the execution of the 2016 budget, revenues will increase by 4.5% on the year in 2017, while expenditures are seen to surpass this year's preliminary results by 5.48%.
The budget was sent to parliament for adoption.
(1 euro=7.5362 kuna)