Finances Stable, but Debt for Medicines at Record Levels

Croatian public finances have received yet another recognition for their stability. Standard & Poor’s has confirmed Croatia’s credit rating at an all-time high of A–, with a positive outlook. S&P analysts justified their decision by citing ‘resilient economic growth alongside strong fiscal indicators and support from eurozone membership’.

The Ministry of Finance commented on this decision by stating that it is a clear confirmation that the Croatian economy stands on solid foundations and that our reforms have been recognized, alongside stable public finances, strong European support, and a clear perspective for economic growth. Roughly speaking, public finances are stable, public debt is below 60 percent, and the budget deficit is less than three percent.

However, if we are doing so well, why has the debt of hospitals to wholesalers become record-breaking? This issue, weighing in at 730 million euros, is back in focus these days, and the state has come to the medicine traders with a well-worn consolation: ‘We will resolve it.’ This is how it has been ‘resolving’ for years.

Space Management May Improve

One plan has been adopted, and another will be soon – this refers to the Zagreb General Urban Plan (GUP) and the new Construction Act, two documents that should bring significantly more order to the space. If the GUP is any indication, Zagreb will be somewhat greener, without high buildings in areas dominated by family houses. The Construction Act is expected to curb one of the biggest problems in spatial management, construction without a building permit.

The foundation of the proposed law was to be 12 points that the Croatian Chamber of Architects submitted to the relevant ministry two years ago. As is often the case, the law has partially accepted some of the proposals from the profession. On the other hand, the Croatian Chamber of Civil Engineers is very satisfied with the proposal and considers it a step in the right direction. Whatever the case may be, there is hope that it will be strictly enforced because the implementation of most of our laws ‘falls’ at this stage.

Oracle Emerges from the Background and Gives Birth to ‘Ten Titans’

The thesis that artificial intelligence will change the entire economic paradigm has brought the somewhat forgotten Oracle back into the spotlight of investor interest. After the company – without whose databases a digital economy is unimaginable – announced in its quarterly report expectations that its cloud infrastructure will grow by at least 70 percent annually over the next four years, its stock value surged by 36 percent.

This increased the wealth of its co-founder Larry Ellison by 89 billion dollars, making him, for one day, the richest person in the world, surpassing Elon Musk. Wall Street financiers now claim that the ‘magnificent seven’ (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla) no longer accurately reflect the American tech sector. Now, there is talk of ‘ten titans’, which, in addition to the aforementioned seven companies, also includes Broadcom, Oracle, and Netflix.