FinMin: Cost of coronavirus crisis so far exceeds HRK 11 bn

We cannot ignore all the additional expenditure either, especially in the health sector for the fight against the pandemic, said Maric.

He also pointed out the revenue deficit caused by the decline in economic activity, which particulary affected the revenue from Value Added Tax.

According to Minister Maric, from the start of the year to the end of August there was a drop of about 12% on the year in tax revenue, and a drop of nine to ten percent in contributions.

He also recalled the measures intended for taxpayers, tax deferral and write-offs, for which about HRK 5.3 billion had been provided.

To date, between HRK 2.3 and 2.4 billion has been written off, he said.

All of that adds up to HRK 21 billion, Maric said, adding new measures would be introduced depending on the situation and possibilities.

"We have been consistent the entire time, keeping jobs is the priority," said Maric.

As for foreclosures, he underscored that it was not only a matter of debtors' rights and that creditors' rights also had to be considered, as well as maintaining financial discipline and order in the country.

Maric also said that the economic and fiscal policy guidelines should be adopted within two weeks, including the updated GDP projection for this year. The estimate of the decline will be slightly more favourable than the current estimate of 9.4%, he added.

(€1 = HRK 7.522517)