SuperSport HNL 30th Round: Gorica Beats Rijeka and Jumps to 9th Place
April 24, 2023 - The SuperSport HNL 30th round was played from April 21 to 23, 2023. This round saw Dinamo draw against Istra, Belupo beat Osijek, and Gorica defeat Rijeka to jump from 10th to 9th place in the standings.
Lokomotiva - Sibenik (1-0)
Lokomotiva and Sibenik opened the 30th round on Friday, April 21, in Zagreb in front of 581 fans.
The only goal of the match came in the 81st minute when Tuci found the back of the net for 1-0. Lokomotiva had 61% possession and 14 total attempts compared to Sibenik's four attempts.
Lokomotiva is in 8th place with 37 points, and Sibenik has dropped to last place with 24. Lokomotiva plays Rijeka next weekend and Sibenik meets Belupo.
Slaven Belupo - Osijek (2-1)
Belupo and Osijek met on Friday in Koprivnica in front of 3,590 fans.
While the first half went without goals, Caktas made it 0-1 for Osijek in the 52nd minute. Two quick stoppage-time goals gave Belupo the win - Krstanovic scored a penalty in the 91st minute for 1-1, and Boras made it 2-1 in the 10th added minute. Belupo had 56% possession and 14 total attempts on goal, while Osijek had 20. Both teams had four shots on target.
Belupo is in 4th place with 40 points, and Osijek is in 5th with 39. Belupo meets Sibenik next, and Osijek meets Istra.
Istra 1961 - Dinamo (0-0)
Istra and Dinamo met on Saturday in Pula in front of 3,340 fans.
The game ended without goals, though Dinamo had 57% of possession and a total of 8 attempts on target compared to Istra's 7.
Dinamo remains in first place with 67 points, while Istra is in 7th with 38. Dinamo meets Varazdin next and Istra plays Osijek.
Hajduk - Varazdin (2-0)
Hajduk and Varazdin met on Saturday at Poljud Stadium in front of 10,596 fans.
Benrahou put Hajduk ahead in the 25th minute for 1-0 at the half. Sahiti scored a stunning far-post goal assisted by Benrahou in the 65th minute for the final 2-0. Possession was equal during this match, while Hajduk had 14 total attempts, of which eight were on target.
Hajduk is in 2nd place with 57 points, while Varazdin is in 6th with 39. Hajduk plays Gorica next, and Varazdin meets Dinamo.
Gorica - Rijeka (1-0)
Gorica and Rijeka closed out the 30th round on Sunday in Velika Gorica in front of 2,362 fans.
While Gorica's first goal in the 2nd minute was called offside due to VAR, Fucak made it 1-0 in the 63rd minute for the Gorica win. Rijeka had far more possession in the match at 63%, with 11 total attempts on target, too.
Gorica has now jumped to 9th place with 26 points, while Rijeka is in 3rd with 41. Gorica and Hajduk meet next, while Rijeka meets Lokomotiva.
You can check out the HNL table HERE.
To follow the latest sports news in Croatia, follow TCN's dedicated page.
Croatian Inflation Sees Less Spent on Investment But Fiscal Picture Improves
April the 24th, 2023 - Croatian inflation has seen certain investments shelved, with 6.8 percent less being spent on investments across the board, but aside from that, a better fiscal picture than previously expected has emerged.
As Poslovni Dnevnik/Jadranka Dozan writes, like most other member states of the European Union and the Eurozone, Croatia ended 2022 with a better general government budget balance and a further decline in the level of national debt measured as a share of gross domestic product. The improvement of the Croatian fiscal picture was manifested in the realised surplus of 0.4% of GDP instead of the deficit recorded the year before (which was also planned for 2022).
The dynamics of the debt-to-GDP ratio, which was reduced by as much as 10 percentage points, down to 68.4 percent, proved to be better than expected, according to the first of two reports on the budget deficit and national debt that the national statistical offices submit to Eurostat during the fiscal year, under the supervision of the European Commission.
High levels of Croatian inflation contributed to the aforementioned outcome, and in addition to enterprises who were forced in most cases to increase their profit margins, inflation also "benefited" the state in certain ways, on the one hand by filling the state budget, and on the other by "devaluing" state debts in relation to nominal GDP.
The surplus of the consolidated general government reached almost 2 billion kuna last year, while a deficit of almost 11 billion kuna or 2.5 percent of GDP was recorded the year before that. The last time the state had a fiscal surplus was otherwise back during the pre-pandemic, record tourism year of 2019.
Bearing in mind the relatively generous fiscal incentives that last year were primarily motivated by the Russian aggression against Ukraine and its consequences on supply chains and price pressures, in such conditions (taking into account the beneficial effect of inflation on tax revenues such as those from VAT) the realised surplus could could indicate that Croatia's fiscal policy was actually relatively restrictive.
The Central Bureau of Statistics (CBS) pointed out that the favourable balance of the state budget itself, which stood at as high as 11.6 billion kuna, had a big impact on the amount of last year's surplus. Taxes on production and imports were collected, they say, in the amount of 94.44 billion kuna (according to the time adjustment method) which represents a 13.6 percent increase compared to the year before, current taxes on income and wealth were collected in the amount of 37.4 percent more, and net social contributions poured in 12.8 percent more than they did back in 2021.
On the expenditure side, fiscal incentives were manifested through increased expenditures for subsidies. Last year, interest expenses reached a staggering 7 billion kuna, or about 250 million (3.5%) more than the year before. However, in the context of the achieved surplus, it should be noted that last year, there was a noticeable decrease in general government expenditures for investments, by 6.8 percent, to slightly more than 19.1 billion kuna, and some analysts believe that this speaks volumes about the weak investment activities of the City of Zagreb.
From the aspect of state finances and debt, it is certainly important that two tranches of EU grants for the National Recovery and Resilience Plan "settled" things a little bit more last year.
Croatian inflation might be what is making all of our wallets feel a little slimmer, but issues like this are very much in evidence across the EU, and when compared to the peak in 2020, marked by a sharp economic decline, in just two years, Croatia's debt ratio dropped by as much as 18.6 percentage points of GDP.
Among the EU member states, Greece (-23.3 points), Cyprus (-14.7), Portugal (-11.5) and Ireland (-10.7) also reduced their respective debt levels by more than 10 percentage points last year. However, while in the case of Ireland it fell below 45 percent of GDP, in Greece and Portugal, even with such reductions, their debt remains higher than their GDP (Greece is at 171 percent, and Portugal is 114 percent).
In relation to the countries of Central and Eastern Europe with which Croatia and the situation of ongoing Croatian inflation are usually compared, the level of the national debt of Croatia is still generally higher. For example, Slovakia's stands at 57.8 percent, Poland, Romania and the Czech Republic are all below 50, and Bulgaria at only 23 percent. In neighbouring Slovenia and Hungary, which still had lower level of debts, it is now slightly higher (standing at 70 and 73 percent respectively).
The lowest ratio of national debt to GDP was recorded in Estonia (18.4%), and it is below 40 percent of GDP in five other countries, including two from the "upper house" according to the level of development (these are Denmark and Sweden). Thirteen other EU member states exceed the "Maastricht" limit of 60% of GDP, and in six nations, the debt exceeds GDP, among which are some of the largest EU economies, such as Italy, France and Spain.
For more, make sure to check out our news section.
Proceedings Against Croatia Initiated for Failing to Implement EU Directive
April the 24th, 2023 - Brussels has initiated formal proceedings against Croatia for failing to implement an important European Union (EU) Directive surrounding the proper balancing of working and family/private life.
As Suzana Varosanec/Poslovni Dnevnik writes, there are a number of reasons why the 2019 EU Work-Life Balance Directive is seen as a real milestone for working parents and carers, as well as for everyone else who needs to draw a firm boundary between their work life and their private life in order to remain mentally healthy.
The aforementioned European Union Directive includes the right to request reduced or flexible working hours and flexibility within the workplace, which applies to all working parents with children up to eight years of age and all care providers.
However, although the new rules should enable people to develop their careers and family lives side by side, getting to enjoy both for what they are without dealing with the stress of the two lines constantly being blurred, while at the same time increasing their general sense of well-being, in as many as eleven EU member states, which includes Croatia, the new rules have not yet been implemented.
The deadline for this expired last summer, more precisely on August the 2nd, 2022, and after an official warning, the European Commission's April decision is now in force, continuing the legal proceedings started against Belgium, the Czech Republic, Ireland, Greece, Spain, France, Croatia, Cyprus, Luxembourg, Austria and Slovenia.
At this stage, this means the European Commission's reasoned opinions on the aforementioned articles are due to the violation of rights, and as such, a lawsuit against Croatia has been initiated. All of the aforementioned EU countries have two months to take measures to harmonise with this so-called reasoned opinion, including the Republic of Croatia, while in the opposite case the EC can refer full cases against them to the Court of the EU. Member states otherwise had ample time, more specifically three years to transpose it into their respective national laws.
For more, make sure to check out our dedicated news section.
Famous Split Bellevue Hotel Has New Owners - The Split Company Retoi
April the 24th, 2023 - The cult Split Bellevue Hotel now has brand new owners, the Retoi company, which is also from Croatia's second largest city and has close ties to... shoes.
As Poslovni Dnevnik writes, the brand new owner of the well known Split Bellevue Hotel is the company Retoi, which is also from Split, and which offered a massive price of 14,111,111 euros for it. The company is owned by Alex Birkenstock, who also owns the renovated Ambasador Hotel in Split.
Bids were initially opened at the Commercial Court in Split on Friday, and Retoi offered the highest among the six bids received. The company Rico Coca offered 13,100,000 euros, and Ruzarija from Zagreb had a total offer of 13,130,000 euros.
The company Tu doma submitted two identical offers of 9,109,000 euros, Porto Hvar offered 8,008,008 euros, and Mediteran trade offered 7,423,002 euros. Klaus Alex Birkenstock, one of the world's largest shoe manufacturers, otherwise the owner of the huge Birkenstock brand, bought the equipment and furniture of the hotel with the Laurus building, including 23 works of art that decorate its walls, writes Vecernji list.
The Split Bellevue Hotel was sold in the bankruptcy estate of Laurus, and the lowest total price could not be lower than 7,167,031.65 euros. All bidders also had to pay a 2 million euro bond.
This complex is otherwise one of the oldest Croatian hotels in the most prestigious location in the City of Split. It was first mentioned around 1875 under the name Hotel de la Ville. It was run by Spiridone Tocigl, and was known for its famous coffee house and medicinal baths. It has hosted numerous very notable personalities during its time.
Back at the beginning of the 20th century, J.L. Crown became the owner of the cult Split hotel and changed its name to Grand Hotel Bellevue. The first major renovation was carried out in 1933, when the hotel got heating, hot water, a lift and bathrooms next to the rooms, the greatest luxury one could thing of back at that time. Among other people, Agatha Christie, Anatole France, and Orson Welles have all stayed in the Split Bellevue Hotel.
For more, make sure to check out our news section.
Marino Franinović from Pula Becomes Honorary Consul of Georgia in Croatia
April 23, 2023 - Another strengthening of diplomatic ties, as Marino Franinović from Pula is appointed Honorary Consul to the Republic of Georgia, reports Glas Istre.
Until recently, Georgia covered Hungary and Croatia from Budapest, but now we have the Embassy of Georgia in Croatia with headquarters in Zagreb and the Consulate of Georgia with headquarters in Pula and consular powers over the consular area that includes Istria and Split-Dalmatia County, Franinović reveals.
Having received the letter of appointment by which the Minister of Foreign Affairs of Georgia, Ilia Darchiashvili, appointed Marin Franinović as the honorary consul of Georgia in the Republic of Croatia, the President of the Republic of Croatia, Zoran Milanović, approved Franinović's performance of the duties arising from the aforementioned letter of appointment.
- I instruct the authorized bodies of the Republic of Croatia to enable Mr. Marin Franinović to carry out his duties without hindrance, to enjoy all the rights and privileges that belong to his service and his position, and to provide him with their assistance in everything. In confirmation of this, the seal of the Republic of Croatia has been affixed, it says in the exequatur signed by President Zoran Milanović.
This is how this native of Pula with residence in Zagreb, who has been working around the world for almost two decades, officially became the honorary consul of Georgia in the Republic of Croatia. These days, we talked with Franinović about how his appointment came about, as well as about Georgia, the similarities between that country and Croatia and Istria, and the work he normally deals with.
Professional path
- First of all, someone needs to recognize the human in the human, the human values that mostly come from home upbringing, is the introduction to Franinović's answer to our first question about being appointed honorary consul.
- Live so that your parents are happy and your friends appreciate you. My brother and I were brought up in that spirit, and we should first of all thank our parents for that. However, it is necessary to return to the beginning of my international education, as well as my professional career.
I got my master's degree and completed my MBA in London, then started working for JPMorgan and a few years later ended up at the European Investment Bank based in Luxembourg, as an advisor to Vice President Vazil Hudak. It is a position that opens almost all doors in more than 160 countries of the world and on the basis of which I have made many friendships on a global scale at the highest government levels. Today, it is probably the biggest capital I own, Franinović tells us.
One of the countries where the vice president of the European Investment Bank and he made his significant professional and personal contribution is Georgia, as Franinović says, "a wonderful country of wonderful people."
- After several years of cooperation and friendship, the Government of Georgia offered me the position of honorary consul in the Republic of Croatia last February. Exactly one year later, Mr. E. Zaal Gogsadze, Ambassador of Georgia to the Republic of Croatia, solemnly handed me the exequatur of the President of the Republic of Croatia, which is also the final act of a complex diplomatic procedure.
On the same day, the Georgian ambassador to the Republic of Croatia presented his credentials to President Milanović. The Georgian ambassador was accompanied by adviser and temporary chargé d'affaires at the Embassy of Georgia George Zviadadze. Namely, until recently, Georgia covered Hungary and Croatia from Budapest, but now we have the Embassy of Georgia in Croatia with headquarters in Zagreb and the Consulate of Georgia with headquarters in Pula and consular powers over the consular area that includes Istria and Split-Dalmatia counties, says Franinović.
- If I had to describe Georgia in one single word, the right word would certainly be hospitality. What makes us return to a country and truly love it are the people and their hospitality rituals, says our interlocutor.
- Georgia has an 8,000-year-long tradition of wine production, which makes it the oldest wine region in the world. The Georgian Qvevri method of wine production is one of the world's leading methods, and this long and harmonious coexistence of clay and vines has been producing great results for centuries. In fact, Georgia and Croatia are very similar countries in many respects. There are just under four million of them and us.
Both we and they have a similar share of the tourism industry in GDP. The only difference is that they aspire to join the EU and NATO, while we already enjoy full membership. From an economic perspective, according to the criteria of the World Bank, Georgia is at the very top in terms of ease of doing business. In fact, in all rankings of the World Bank, Georgia is in the top 10 countries in the world. This is really impressive, we can learn a lot from them, especially from the perspective of digital transformation, he points out.
Economic cooperation
- In Georgia, as well as in Croatia and Istria, tourism is one of the key branches of the economy, and they invest a lot in the development of the hotel and tourism industry. This is supported by the fact that this year Georgia was the host country at ITB Berlin 2023 – the world's leading trade fair for the tourism industry. I had the honor to attend the opening together with members of the Georgian Government.
Let's also mention that the secretary general of the World Tourism Organization (UNWTO) who inaugurated the fair in Berlin this year is exactly Zurab Pololikashvili from Georgia. We can expect it soon in Croatia, Istria and Dalmatia. As for my work in that sphere of diplomacy, I am primarily focused on strengthening the economic cooperation between the two countries. The potentials are huge. On both sides there is a whole range of companies that can find their interest.
At the invitation of the Special Adviser of the Prime Minister of Georgia for Foreign Direct Investments, Vazil Hudak, I was in London two weeks ago at the Georgia Investment Forum. There is an impressive number of companies focused on investments in Georgia, especially from Great Britain, Spain and the USA. Georgia's economy is driven by the country's stable political environment, liberal and free market economy.
This is why the country is ranked number seven in the latest World Bank Ease of Doing Business Index. Georgia's economy is also twelfth in the Heritage Foundations Index of Economic Freedom and eighth in the Frazer Institute's Economic Freedom of the World report, says Franinović.
Since it is an honorary title, Franinović emphasizes that he will be able to enjoy some privileges, but he will not be paid for his work.
- As the word itself says, it is an honorary position that entails various privileges, but does not foresee compensation for work. But there is beauty and personal satisfaction in that. As I mentioned in the introduction, first of all, for this position you have to be recognized as a human being. And not by one person, but a consensus must be reached by several people, in this case members of the Government of the country that nominates you.
Therefore, some values must be recognized; first of all the human ones, and then the professional ones. Because in these cases, there is no policy, and no party membership card that would position you for such a position. By the way, this is not my first honorary function. Namely, after my mandate at the EIB, I became the ambassador of GLOBSEC, the leading organization of the European Union dedicated to strengthening security, prosperity and sustainability in Europe and the whole world. We are currently preparing for the upcoming GLOBSEC Forum in Bratislava in May 2023, which is traditionally attended by more than a thousand key stakeholders from more than 65 countries. Over the years, GLOBSEC has hosted a whole series of honorary guests of the highest world rank, including Pope Francis, says our interlocutor.
Improving relationships
Otherwise, the "core business" of the company where Marino Franinović works is based on renewable energy sources.
- I am a co-owner of a company that plays a significant role in the energy transition process of the Republic of Croatia, with a primary focus on solar energy, battery systems for storing electricity, and at the same time we are building and developing a national network of charging stations for electric vehicles. In the last 13 years, we have built more than 600 projects and have more than 80 employed experts. At the same time, I am the owner of a famous boutique hotel in Bol on Brač, about which you can read from London to New York, says Franinović.
Recently, the Minister of Foreign Affairs of the Republic of Croatia, Goran Grlić Radman, was on an official visit to Georgia. This is the first such visit of the Croatian Minister of Foreign Affairs to Georgia. Grlić Radman met with his Georgian colleague, Minister Ilija Darchiashvili, with whom he discussed continuing the intensification of political dialogue between Croatia and Georgia, as well as strengthening cooperation in the areas of economy, trade, tourism, energy and culture.
After the meeting, the ministers signed a Memorandum of Understanding in the field of diplomatic training. Minister Grlić Radman welcomed the recent opening of the Georgian Embassy in Zagreb, as well as the consulate in Pula, which will surely improve our bilateral relations.
He also met with Prime Minister Irakli Garibashvili, as well as Deputy Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili, with whom he signed an agreement between the two governments on economic cooperation.
Association of Croatian American Professionals Conference Coming to Zagreb (ACAP 2023)
April 23, 2023 - An important date for those interested in the strengthening ties between Croatia and its diaspora - ACAP 2023 (Association of Croatian American Professionals conference) is coming to Zagreb.
Wherever I look, i see shoots of hope for the future of Croatia.
Entrepreneurs who are becoming more successful at business, a slowing down of the emigration in Osijek and surrounding area, and a much greater engagement from the Croatian diaspora with the young movers and shakers in the Homeland. Not to mention the steady trickle of those in the diaspora who have decided to return to Croatia for its safety, lifestyle and authentic experiences. You can read a number of interviews about their experiences in the TCN section, Croatian Returnee Reflections.
One of the strongest bonds that has been built across the Atlantic has been with the Association of Croatian-American Professionals (ACAP), which has been doing excellent work promoting Croatia and ties to Croatia since its inception in 2014. The official website describes itself
The Association of Croatian-American Professionals is an international network of 2,000+ professionals spanning all industries and academic communities. Since 2014, ACAP has endeavored to connect and inspire Croatian-American professionals from the United States and around the world to exchange ideas and engage in business collaboration while preserving the cultural heritage we all hold dear to our hearts.
ACAP is a non-profit organization created to foster knowledge-sharing, networking, and promoting Croatian and Croatian-American professionals, and trade between the two. We are active in providing opportunities for professional development, promoting trade, bridging businesses and communities, and facilitating networking events. We welcome individuals of non-Croatian heritage who are active in the Croatian community.
And ACAP is coming to Zagreb! This year's ACAP 2023 conference will be held in Croatia for the first time, from July 5-8 in Zagreb, bringing together some of the heavyweights of the diaspora looking to develop more business and connections in Croatia. These include the CEO of the world-famous Cleveland Clinic, Tomislav Mihaljevic. Health tourism is a huge potential for Croatia, which boasts excellent in the field, and ACAP 2023 has made it a large focus of the event, backed by some very influential speakers in the field, including ACAP President, Dr. Steven Zivko Pavletic:
We hope you will be able to join us in Zagreb. Expectations are high and we will need your support to make this conference a full success. We hope to highlight the excellence of Croatian professionals in Zagreb with a force like never before.
More details on the July conference can be found here with the agenda and link to register.
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Looking for a Job in Croatia? This Week's Top 10 from Posao.hr (April 23, 2023)
April 23, 2023 - Looking for a job in Croatia? A new weekly feature on TCN, in partnership with leading job site agency, Posao.hr, who present a selection of weekly job listings.
How hard is it to find a job in Croatia, and what is on offer?
We spoke to Ines Bokan, director of leading jobs site Posao.hr, who kindly took the time for this excellent interview overview.
This week's top 10 jobs from Posao.hr:
Metro Cash & Carry d.o.o. is hiring a person in the position of METRO Potentials Management Trainee Program (m/f). Place of work Zagreb. Send complete applications via link by May 4th.
Strabag BRVZ d.o.o. for services is hiring a person in the position of IT Security Analyst (m/f/d). Place of work Zagreb. You will have the opportunity to play an active role in our IT Security division and to build up the division together with the very international team, which is located in various countries and cities. Send complete applications via link by May 7th.
KWS Group is hiring a person for the position of Global Key User Finance (m/f/d). Place of work Berlin, Germany. Attractive remuneration and flexible working hours. Send complete applications via link by May 18th.
MED-EL Elektromedizinische Geräte GmbH is hiring a Software Developer (m/f/d). Place of work Innsbruck, Austria. Salary will be determined based on professional experience; the formal minimum salary according to the Collective Bargaining Agreement is € 41,691.44. Send complete applications via link by May 18th.
Sunce Hoteli d.d. / Bluesun is hiring a Junior CRM Specialist (m/f). Place of work Zagreb. Possibility of additional prizes and bonuses. Send complete applications via link by April 30th.
iC artprojekt d.o.o. employs a person in the position Graduated electrical engineer (m/f). Place of work Varaždin. The possibility of advancement and lifelong education. Send complete applications via link by April 30th.
Deltron d.o.o. is hiring a person in the position of Human Resources Coordinator (m/f). Place of work Split. We offer a great atmosphere at work, good relationships, team spirit and team cohesionSend complete applications via link by April 24, 2023.
Ziegler d.o.o., Kutina is hiring a person in the position of Program engineer - electrical engineer (m/f). Place of work Kutina and Zagreb. The possibility of constant improvement and advancement. Send complete applications via link by May 5th.
Austrian Business Agency GmbH / Work in Austria is hiring a person in the position IT employee (m/f). Place of work Austria. Send complete applications via link by April 25th.
Bridge Personal & Service d.o.o. is hiring a person in the position of Software development / Software developer (m/f). The place of work is the whole of Austria. Send complete applications via link by April 30th.
For more career options and job listings, visit posao.hr.
These weekly job listings will appear in the weekly TCN newsletter - you can subscribe here.
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What is it like to live in Croatia? An expat for 20 years, you can follow my series, 20 Ways Croatia Changed Me in 20 Years, starting at the beginning - Business and Dalmatia.
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Croatian OECD Entry Could Occur in 2025, but Corruption Needs Eradicating
April the 22nd, 2023 - Croatian OECD entry could occur in the year 2025 at the very earliest, but important reforms must take place and the country must deal with its endemic problems surrounding nepotism and corruption.
As Poslovni Dnevnik/Ana Blaskovic writes, six full years after sending the letter of intent and one year since the opening of negotiations with the Organisation for Economic Cooperation and Development (OECD), Croatia could be admitted in 2025 at the earliest, Prime Minister Andrej Plenkovic said at the recently held conference "Croatia on the way to OECD: What does membership bring?"
For the head of the government, joining the prestigious club of 38 countries, of which 22 are EU members, is the third (remaining) strategic foreign policy goal after joining the Eurozone and the Schengen area.
State companies and banks
Unlike the situation with Eurozone accession, the Croatian OECD entry process has no deadline set, and the green light depends on the rigorous evaluation of more than 20 technical committees that assess whether the candidate country, in this case Croatia, has fulfilled the reforms and aligned itself with all of the rather stringent OECD standards, policies and practices. With this in mind, it isn't remotely surprising that the Prime Minister "retained some flexibility" regarding the entry date.
"Through the guidelines and programmes of the OECD, there will be an improvement in all those segments of Croatian society that we've already brought to a very high level with EU membership, and with OECD membership, we're going to be making it even better," Plenkovic believes. Next week, he announced, the government will revise the forecasts of GDP growth this year to 2 percent, but also announce a drop in the share of public debt in GDP to 68.4 percent and last year's budget surplus to 0.4 percent.
What the prime minister sees as a special added value, a system that will improve the corporate management of companies in (co)ownership of the state, is also one of the biggest obstacles facing Croatia at this moment in time. There is considerable apparent resentment for the fact that state-owned companies are very open to political infiltration, the serial production of corruption scandals and operate inefficiently.
Earlier, it was clearly stated that, although not mandatory, the recommendations on the centralisation of state ownership, the professionalisation of management and the tidying up of the regulatory framework, represent ''aqis'' for Croatian OECD entry.
"Through the accession process, Croatia will implement numerous reforms in the field of public administration, healthcare, trade, education, agriculture, transport and the management of state-owned companies,'' assured Goran Grlic-Radman.
OECD Secretary General Matthias Cormann said that Croatian OECD accession will be a positive transformative journey as it will lead to a rise in standards and bringing income and productivity closer to the OECD average. "These aren't just formalities but will provide tangible benefits to Croatia's residents," said Cormann during his very recent visit to Zagreb.
Government proposals coming soon
In the panel discussion that followed, Finance Minister Marko Primorac asserted that the Ministry of Finance is participating in the work of nine committees, and out of five OECD questionnaires, four have been completed. He announced that he will soon come out with proposals aimed at ownership policies, portfolio management, the equalisation of salaries, as well as certain "steps in the depoliticisation of Supervisory Boards and Management Boards".
"It's certain that Croatia's membership in the OECD and the reforms which need to be carried out in order to make that happen will further contribute to easing the business environment and creating a more productive, competitive and profitable Croatia," stated HUP (Croatian Employers' Association) director Irena Weber.
''For Croatia, the benefits of OECD membership include support for reforms through the sharing of best practices, participation in global debates and support for G7 and G20 policies. All of this increases the confidence of investors, often also the credit rating,'' said Gita Kothari, Deputy Director of the Directorate for Legal Affairs of the OECD.
For more, make sure to check out our dedicated news section.
New Osijek-Baranja County Business Centre Opens Doors in Osijek
April the 22nd, 2023 - The newly built Osijek-Baranja County business centre, one of the most strategically important centres in the entire county, has now officially opened its doors in an investment worth almost ten million euros.
As Poslovni Dnevnik writes, the investment in the brand new Osijek-Baranja County business centre is worth a total of 9.5 million euros (71.6 million kuna), and the works and equipment were completed in less than two years from the start of construction.
With Osijek on the comeback and the battle against the concerning demographic crisis in the eastern part of the country continuing, this new and imposing economic and business complex in Slavonia will open the Spring Fair, where 170 exhibitors from across the Republic of Croatia and abroad will present themselves on more than 2,500 square metres of closed and 8,000 square metres of open exhibition space.
As part of the three-day exhibition and sales event, a number of accompanying events will be held at the newly opened Osijek-Baranja County business centre, from entertainment and promotional to professional gatherings, and products and programmes will be presented by a number of reputable companies such as the Nexe Group, Ancona Group, Saponia and more.
"The main goal of this representative project is the development of the local economy in this county, as well as across all of the eastern part of the Republic of Croatia. After the end of this first phase, phase two has also been planned. That will be the phase in which the business tower and some closed halls will be constructed, but it goes without saying that what has now been built, a facility with almost 5,000 m2 of closed space, offers the opportunity to organise various fairs and other economic activities as it is. Osijek-Baranja County is taking over the responsibility and management of this new facility," prefect Ivan Anusic announced.
For more, make sure to check out our dedicated news section.
Croatia to be Powered Entirely by Renewable Resources by 2030?
April the 22nd, 2023 - Could the Republic of Croatia be powered entirely by renewable resources/energy by the year 2030? Some experts truly believe that this could be the case.
As Darko Bicak/Poslovni Dnevnik writes, by the year 2030, Croatia could get almost all of its energy from renewable sources, according to an analysis presented by the Croatian Renewable Energy Sources Association (OIEH). The investments required to reach these energy goals stand at around one billion euros annually.
Of this huge sum, 500 million euros would be needed for the construction of solar and wind power plants, 300 million for the rehabilitation, modernisation, reconstruction, replacement and digitisation of the country's transmission and distribution network elements, and 200 million for storage technologies.
The above analysis is based on detailed modeling of the evolution of electricity production and consumption and on numerous simulations of the operation of the Croatian power system in different time frames. It also suggests ways to accelerate the transformation of the power system to strengthen resistance to various crises.
According to the OIEH, which is headed by director Maja Pokrovac, based on current consumption and its growth trend, as well as the currently required import of electricity, the analysis shows a possible future energy picture for Croatia in 2030 with 100 percent renewable energy.
"The annual electricity consumption of 21 to 23 TWh per year would be met by the production of electricity mainly from solar and wind power plants in the country. In January 2030, according to this scenario, Croatia would have 2,500 MW of wind farms that produce 6 TWh of electricity per year. It would also have 2,500 MW of solar power plants that produce 3 TWh of electricity annually. We'd also develop 400 MW in the form of other projects of renewable energy sources such as biomass, biogas and geothermal power plants, which would produce 2 TWh of electricity per year," according to the OIEH. They add that in the year 2030, with the average production of hydroelectric power plants of 6344 GWh, other renewable energy sources would produce around 17 TWh, or primary energy of 42 TWh.
This is equal to the production of electricity from 4.2 million tonnes of natural gas or 3.1 million tonnes of liquefied gas, 3.6 million tonnes of oil, or 5.9 million tonnes of hard coal, which represents about 42% of the nation's current primary energy consumption. The completion of the construction of the Senj2/Kosinj hydropower system with a capacity of 412 MW is also expected by 2029, with an increase in the annual production of the Senj hydropower system by about 220 GWh.
By building new wind and solar power plants with variable production, it will be necessary to build new flexibility resources for balancing system services on the production side and consumption side by 2030. These are new reversible hydropower plants with a capacity of +600/-600 MW, annual consumption of around 2.5 TWh and production of non-renewable 1,875 TWh of electricity.
New batteries will also be needed for storage services and balancing system services. The country will also need stable and flexible electrolysers for the production of hydrogen, which would store surpluses in the system during large-scale production of hydroelectric power plants, wind power plants, and solar power plants. Of course, as the association states, an essential condition for this kind of energy picture in the year 2030 is the development of the transmission and distribution network. Special mention should be made of the development of a new double transmission line of 400 kV, transmission capacity of about 2500 MW, between Dalmatia and northwestern Croatia.
With all of the above, it would be the best scenario of the electric power development strategy in the medium term, which is based on 100% RES, and which requires large investments, but gives low operating costs (electricity prices) in terms of operation.
According to this analysis, in 2030, by categories of available energy, renewable energy sources participate with 68.7%, non-renewable with 20.2% and the Krsko nuclear power plant (which has a Croatian share of 50%) with 11%. The exchange balance is zero, that is, the electricity balance would be completely balanced. According to this scenario, Croatia would not need imports at all.
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