May 19 (SeeNews) - The Croatian government said on Friday it expects a consolidated general government budget deficit equivalent of 510 million euro ($551 million), or 0.7% of the expected gross domestic product (GDP), in a proposed revision of the state budget, down from 2.3% deficit set originally in the 2023 state budget.
The revision is not a result of any unexpected circumstances but rather due to technical reasons, finance minister Marko Primorac told a weekly cabinet meeting, as seen in a video published on the government’s website.
Last month, the government improved its real economic growth projection for this year by 1.5 percentage points to 2.2%. The budget revision is based on assumptions for 6.6% inflation for 2023.
In 2022, Croatia's consolidated general government budget was in surplus of 0.4% of GDP, compared to a revised deficit of 2.5% of GDP for 2021.
($ = 0.926 euro)