Croatia's government

Croatia's government on Thursday vowed to cut the cost of the state administration by some 130 million euro a year, to meet a set of reforms and measures needed to correct macroeconomic imbalances.

The measures and reforms are described in a draft sent on Monday to the European Commission, which in May will decide on EU measures to be taken in Croatia.

As Croatia's government wrestles with the crisis facing borrowers with increasingly expensive loans in Swiss francs, the governor of the Croatian national bank, HNB, Boris Vujcic, has warned against trying to convert the loans into loans in the national currency.

After Croatia's government confirmed December 28 as the day of the presidential elections, campaign to collect signatures for the candidates started on Monda.

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Croatia's government, headed by the Minister of Social Policies and Youth, Milanka Opacic, is pushing ahead with drafting a decree that will scrap the poorest people's debts to banks, communal services and telecommunications firms.

Struggling to reduce its hefty budget deficit, Croatia's government on Thursday announced a package of new taxes aimed at cutting the deficit.

The changes include new taxes, changes to existing taxes and scrapping some of the supplements given to salaries in the public sector.