Branimir Markovic () (Full Professor, Faculty of Economics in Osijek, Croatia) Bozica Dunkovic (Agency for Development Osijek-Baranya County in Osijek, Croatia) Dinko Jukic (High-school for trade,Osijek, Croatia)
Abstract
In Croatia there is recognized growing interest and effort gain by authorities to give all areas equal opportunities to gain economic and social resources above all needed for EU accession. Allocation of budget which can ensure expected quick economic growth of eastern parts of Croatia justifies budget deficit. The paper shows necessity to accept a challenge of change the mainstream of financing capital investments because conventional patterns slow down and make difficult to run development projects. There is a great extend of opportunities of financial sources but not used in enough scale. The goal is to answer on questions: what kind of sources of financing are suitable to use in public sector, and is their current way of borrowing fit efficiently enough to be adequate for quick economic development? This paper contributes in attempt to present some solutions to problem of areas legged behind in Eastern Croatia which plead for strengthening development and economic prosperity because nominated projects for public goods exceed their budgets possibilities. Many factors depend about financial productivity of local units. For that purpose the current mainstream of public debts will be considered. The potential of different pattern of public debt will be foreseen and at the same time identify the possibilities which could bring new patters of financing public investments like involvement of private sector in projects of public interest like public-private partnership.
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Find related papers by JEL classification: E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy H10 - Public Economics - - Structure and Scope of Government - - - General
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