Labour Minister Josip Aladrovic said on Thursday that responsibility should be taken for setting the foundations for a long-term sustainable society in the circumstances of the struggle against the economic crisis, rising economic inequalities and climate change in the times of the corona crisis.

“This is a great challenge and an opportunity to press ‘reset, shape new policies and design better and fairer measures,” the minister said in the northern Adriatic resort town of Rovinj during the conference “The Challenge of Change”, organised by the Zagreb Stock Exchange (ZSE) together with the Association of Pension Fund Management Companies and Pension Insurance Companies.

Recalling that nearly seven billion kuna had been invested this year through intensive, timely and adequate measures to save more than 600,000 jobs in Croatia, Aladrovic said in his address that six months since the onset of the pandemic most economies were trying to go back to normal.

However, some sectors will be dealing with the consequences of the corona crisis in the years to come, he said mentioning the travel industry, transport, hospitality, sporting events and the leisure industry.

Aladrovic said that the government had prepared the measures for young people which would be outlined before the end of this year.

The measures are designed to enable young people, primarily creative young persons, to have easier access to the labour market, he said adding that the measures would encourage them to be independent in creating added values.

In this context he mentioned money available from the European Union’s multi-annual financial framework and funds.

Gov’t set to relax regulatory framework for stronger activation of pension funds’ assets on market

Aladrovic informed the conference that the government planned to further relax the regulatory framework so as to enable a stronger activation of the pension funds’ assets on the market in terms of long-term financial support for sustainable projects.

Commenting on the current political and economic context, the minister said that despite weak points of some sectors of the economy, the labour market and economic activity were preserved.

“We can see a better future. How much better it will be depends on us. The human, intellectual and technological capital that we have is promising, however its efficiency must be enhanced to the greatest extent possible so as to exploit our full potential,” he concluded.