Croatia targets 0.2%/GDP cons general govt budget surplus in 2020

The draft is based on expectations of 2.5% economic growth next year, slower than the anticipated 2.9% increase this year, the government said in a statement last week.

The document has been submitted to parliament for approval.

The central government budget is projected to post a 2.15 billion kuna deficit in 2020, equivalent to 0.5% of GDP.

Total central government revenue is planned at 145.1 billion kuna, up 5.4% compared to the revised 2019 budget bill, while total expenditures are projected at 147.3 billion kuna, up 6% on the year, the statement reads.

Finance minister Zdravko Maric said in the same statement that domestic demand will lead economic growth next year when exports of goods and services are expected to rise 3%, slower than the anticipated growth of imports by more than 5%.

Croatia's consolidated general government budget was in surplus of 992 million kuna at the end of last year, equivalent to 0.3% of GDP, the country's statistical office said last month.

Last year was the second straight year in which Croatia reported a budget surplus. The consolidated general government budget closed 2017 with 2.9 billion kuna surplus, equivalent to 0.8% of GDP.

(1 euro = 7.45067 kuna)