Business

EU demands Croatia tackle deficit, cut spending

By Juergen Baetz
Published January 28, 2014 2:04pm ET
Add Washington Examiner on Google
EU demands Croatia tackle deficit, cut spending
European Commissioner for Economic Affairs Olli Rehn, left, speaks with Greek Finance Minister Yannis Stournaras during a meeting of eurogroup finance ministers at the European Council building in Brussels on Monday, Jan. 27, 2014. Eurozone finance ministers on Monday were to discuss Greece's economic issues and the frustrating pace of negotiations. (AP Photo/Virginia Mayo) | Virginia Mayo

BRUSSELS (AP) — European Union officials on Tuesday demanded Croatia slash its budget shortfall and reduce spending to bring the country’s deficit back under the bloc’s allowed ceiling.

The Balkan nation, which only joined the EU last year, must more than halve this year’s expected deficit from 6.4 percent of economic output to 3 percent by 2016.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.