Horvat: Investment Cycle in Croatia Continuing

By 1 July 2020

ZAGREB, July 1, 2020 - Economy Minister Darko Horvat on Wednesday said that the investment cycle in Croatia was going on through projects launched by his ministry, research and development projects, and through monitoring entrepreneurs' innovative ideas.

He recalled that the government's measures to bail out the economy during the corona crisis and added that entrepreneurs could still use job keeping incentive measures in June through a shorter working week for employers with more than ten employees on their payroll and the grant is in in the amount of HRK 2,000 a month for each worker.

That measure has also been foreseen for micro-enterprises that have recorded lower incomes and a fall in business activities as a consequence of the coronavirus pandemic, he said.

Today the self-employment incentives scheme has been reactivated and recalled that this scheme had enabled the employment of 19,936 people in the period from October 2016 to March 2020.

 The government has adopted a measure for all those who had previously received incentives for self-employment to expand their business.

Horvat said that the government and relevant ministries have secured funding to support the cash flow for Croatian entrepreneurs to save every job, trade, company, and family-run farm.

The Croatian Agency of SMEs, Innovations, and Investments (HAMAG-BICRO) has received 5,500 applications and secured sufficient liquid funding to secure loans for 3,500 enterprises under unprecedented favourable terms. "They are being issued with an interest rate of 0.25% and a grace period of a year," he added.