Struggles with the Distribution of Funds from the Future Crisis Fund

The story about the intervention/development/guarantee fund is somewhat akin to the saying: two Croats – three different opinions! While companies are burning underfoot, and the Croatian Employers’ Association (HUP) has been vocally advocating for such assistance for a year, the Government not only lacks outlines of the long-announced fund but is also unsure whether it will even exist.

In the new issue of the business weekly Lider, read:

We are faced with problems on all sides, and Croatia lacks a competent policy capable of responding decisively. Someone must develop a consistent and comprehensive anti-recession program for the next 12 months and a long-term economic strategy for the next decade. Dr. Žarko Primorac writes about Croatia 2010.

A new tour operator brand should create the largest sales network in Croatia. The most logical move would be for Generalturist and adriatica.net to join forces and conquer the European market together, but the chances of such a move are equal to the creation of a large coalition between HDZ and SDP. An interesting story about tour operators from the pen of Željka Laslavić.
 
Any party, politburo-style model of distributing money from the future crisis fund is unacceptable. The criteria for allocating these funds must be based on the success of the companies, the causes of difficulties, orders, past results, potential, and the speed of turnover of these funds and their return, warn HUP representatives, adding: – All those who have previously used various forms of support without justification should be excluded. This is a clear message to the new Minister of Economy.
The story about the intervention/development/guarantee fund is somewhat akin to the saying: two Croats – three different opinions! While companies are burning underfoot, and HUP has been vocally advocating for such assistance for a year, the Government not only lacks outlines of the long-announced fund but is also unsure whether it will even exist. Finance Minister and Deputy Prime Minister Šuker is solely concerned about the state treasury, which he believes could once again plunge into a deep deficit – due to possible non-transparent provision of assistance and financing of several struggling, less healthy companies. More in the weekly topic written by Gordana Gelenčer.

In an interview, Željko Menalo, CEO of Erste Card Club, reveals what has changed for Diners with its entry into the bank’s system, how Erste Card Club is coping with the challenges brought by the economic crisis, and how it plans to expand further.

In the final act of reshuffling forces in the Croatian retail market, an important role will be played by who will buy Kerum. Even more important will be whether some of the largest foreign chains, such as Tesco or Carrefour, will enter the market through Mercator. The survival threshold for retail has been raised to one billion kuna in revenue.

An interesting report from Greece is sent by Robert Valdec, revealing the true drama following the fall of the government that concealed the state’s bankruptcy. The saying ‘in debt like Greece’ has become a reality. What happens when Athens boils over?

Marija Zuber writes about VAT. Namely, from January 1, the budget will be fuller due to VAT on some services of banks, insurers, hospitals… The core activities of banks, insurers, schools, health, and some other institutions remain exempt from VAT, but all other services they provide, such as renting safes in banks or renting space in schools, will fall under the value-added tax system.

A survey among procurement managers conducted by JP Morgan from China to Europe and the USA in December of the recessionary 2009 exceeded expectations. The procurement managers’ index is the highest in the last four years. All major economies have emerged from the recession, but the question remains how stable this recovery will be. More in the story ‘Procurement Managers Expect a Record Number of Orders in 2010’

In the Business Knowledge section, find out why some Croatian companies are not interested in free work for young people. It is common practice worldwide to allow young graduates to work unpaid in companies to gain work experience in their field. This helps them in their job search, and those who prove themselves well can be recruited by the companies. Why is such a practice unknown in Croatia?

The serial is dedicated to Michael Schumacher. Did you know that the return of the legendary Formula 1 driver costs as much as seven million euros?! Although car racing remains one of the most profitable sports in the world, tough times are also felt in Formula 1. BMW, Toyota, and Honda have left the competition, budgets have been cut, and last year’s earnings were down by 200 million dollars. The new momentum for the competition should be ensured by the currently oldest driver, Michael Schumacher, who is returning to the tracks after a three-year retirement as a driver for the Mercedes team this time. (G. J.)