Regional News:
IMF’s warning: Depreciate kuna or you’re facing a breakdown
24.10.2007 12:46:00 | Source/Author PressCut
According to all macroeconomic indicators, the situation in Croatia, Bulgaria, Romania, and Serbia is similar or much worse than the situation that had culminated in 1996 with the breakdown of the Asian market and huge losses in Korea and East Asia.
The comparison of basic macroeconomic indicators reveals that the foreign trade deficit in the above four countries is twice as high as it was in Asia, foreign debt is higher by 20 percent, economic growth is lower, and inflation is higher. The only advantage over Asia is in higher foreign currency reserves.
This comparison was made by the economic department of the IMF’s European office. After Lebanon, Croatia is the second country in the world by the share of foreign currency loans in overall indebtedness.
(Vecernji list)
The comparison of basic macroeconomic indicators reveals that the foreign trade deficit in the above four countries is twice as high as it was in Asia, foreign debt is higher by 20 percent, economic growth is lower, and inflation is higher. The only advantage over Asia is in higher foreign currency reserves.
This comparison was made by the economic department of the IMF’s European office. After Lebanon, Croatia is the second country in the world by the share of foreign currency loans in overall indebtedness.
(Vecernji list)
|
