Still On Course For EU

September 2004 | Market Strategy

Now a candidate for EU membership, Croatia is looking to open membership talks in March 2005, with a view to joining the bloc in 2008 or 2009. In order to achieve this aim, rapid reform will be required, which in turn requires adherence to the country's agreement with the IMF. Indeed, the Fund's resident representative in Zagreb, Athenasios Vamvakidis has provided a relatively upbeat assessment of the government's attempts at fiscal retrenchment. Under the current stand-by agreement, Croatia has promised to cut its budget deficit from 4.5% of GDP this year to 3.7% of GDP in 2005 and 3.2% of

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