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Economic Council recommends continuous monitoring of economic trends and government budget

ZAGREB, Dec 8 (Hina) - The Economic Council recommends continuous monitoring of economic trends and the revenue and expenditure of the government budget so that appropriate measures can be proposed in good time.

The Economic Council met on Monday to discuss the current economic situation in the light of the global crisis and the preparation of the government budget for 2009.

The meeting was attended by representatives of the government, trade union federations and the Croatian Employers' Association.

It was decided that the Ministry of the Economy, Labour and Entrepreneurship would, in cooperation with the Economic Council, propose measures to encourage the competitiveness of small and medium enterprises and exports.

The Council said that fiscal discipline, cost reduction, further support to the economy and production, the intense continuation of reforms and cooperation between the social partners were necessary in order to overcome the global economic and financial crisis.

The next session was set for 18 December when the Council will discuss the position of exporters and export-boosting measures.