It remains a significant question which companies will be able to ‘digest’ nine billion kuna. So far, only the Croatian National Bank (HNB) is saving what can be saved through an unconventional approach. However, the HNB cannot write the strategy or lead industrial policy instead of the state.
Whenever he begins to say something, HNB Governor Ċ½eljko Rohatinski hits ‘the mark’. Just two weeks ago, in response to our inquiry, he warned that the biggest problem is not the yet unknown criteria for granting state aid, but the quality of the entrepreneurial programs that will apply for loans and guarantees. The problem is even greater as additional release of ‘frozen’ bank funds is on the horizon. By the end of the year, the HNB could release another six billion kuna by lowering the required reserve rate to 11%.
