2.1 Billion Kuna of Budget Funds Redistributed to Address Corona Crisis

By 9 April 2020

ZAGREB, April 9, 2020 - The government on Thursday redistributed budget funds in the amount of HRK 2.1 billion to address the consequences of the outbreak of COVID-19, and the most of those funds would be used for the government's measure to help employers to retain their workers.

Finance Minister Zdravko Marić informed the cabinet that a new round of the redistribution of the funds would soon ensue.

The lion's share, that is HRK 1.87 billion of the reallocated funds, will be set aside for the government's measure designed to keep jobs and ensure funds to employers whose businesses are hard hit by the corona crisis.

The Croatian liquidity guarantee scheme for export-oriented companies, which has been prepared by the Croatian Bank for Reconstruction and Development (HBOR), can count on 80 million kuna.

For instance, the government also has set aside 53 million kuna to fund the procurement of new equipment for microbiological diagnosis of the infection with coronavirus.

The funds have been ensured through austerity measures made by the ministries.

The infrastructure and transport ministry, for instance, has ensured 305 million kuna through cost-cutting plan.

The education and science ministry has provided HRK 294.8 million through its austerity measures, and the regional development and EU funds ministry 152.9 million. Other ministries have also made savings by cutting their costs.

More budget news can be found in the Business section.