Strengthening competitiveness and the investment climate is necessary in order to ensure economic development and growth in Croatia, so in the next few weeks the government will unveil a plan of reforms that will need to be implemented as quickly as possible, the Deputy Prime Minister and Minister of Regional Development and EU Funds Management, Branko Grcic, said at a conference, entitled "Globally and locally - Global companies and Croatian business", in Zagreb on Tuesday.
It was the first conference of its kind in Croatia. Organised by the business weekly Lider, it brought together representatives of domestic and foreign companies operating in Croatia, politicians, and representatives of local authorities.
Grcic said that the initial steps taken by the government were good and without the aid of the International Monetary Fund and similar institutions, adding that despite poor economic indicators the situation in the first half of the year was comparatively more favourable than expected. He said that it was important that Croatia had managed to keep its credit rating and reduce the borrowing rate in relation to 2011, and that he expected the economic decline to continue in the second quarter and believed that the situation the third and fourth quarters would turn for the better.
