The Finance Minister, Slavko Linic, in an interview with the Globus weekly said that Croatia is in a ‘state of emergency’. Next year, it will be even more difficult and Linic does not exclude the possibility that Croatia will need help from IMF to overcome the financial crisis.
‘If you have a permanent decline of all economic activities, enormous liquidity problem, high unemployment rate, if you are not capable of paying salaries... then you must face the reality and call it a state of emergency’, said Linic for the Globus weekly.
'If the situation does not improve as soon as possible, if there would be no new investments, then the budget projections for the next year are very, very bad’, said the Minister. ‘In about six months, we will know if an assistance from IMF will be needed’, Linic said.
‘But our fiscal policy is clear: next year, the public expenditure must be lower than this year’, Linic said.
