Naslov
A national treasury in Croatia : a reality or a possibility?

Autori
Bajo, Anto

Izvornik
Newsletter : an occasional publication of the Institute of Public Finance (1333-4417) 3 (2001), 6; 1-7

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, popularan rad, ostalo

Ključne riječi
National treasury

Sažetak
The Ministry of Finance (MF) does not know the precise number of government kuna (Croatian currency) and foreign currency accounts kept in the commercial banks. Also unknown are the amounts in these accounts, and the conditions (interest rate) under which the government deposits its money here. The problem is that in the MF there is no management of cash, and there are no clearly defined authorities for managing the public debt. The Croatian National Bank (CNB) also has the problem of not covering in its monetary statistics the situation of the resources in kuna and foreign currency kept by local government units (LGU) in the banks. In addition, there is also the problem of the Payments Clearance Institute (PCI), the role of which in the system of government finances has not been defined. The reason for this kind of situation is the fact that there is no national or government treasury system, payments are not made from a single treasury account (for all ministries, extra-budgetary funds and local units) and there is no clear regulation of payments clearance through the government accounts. We should recall that the project for the national treasury and payments from a single treasury account at the CNB started in 1994 has still not been put into practice. The establishment of the national treasury and the single account of the treasury, and getting them to work, are becoming increasingly important when one considers that there are no clearly settled relations or responsibilities for the key “fiscal agents” (the MF, the CNB and the PCI) in the system of government finances. The most recent statutory approaches have created an additional confusion from the point of view of the organisation and functioning of the national treasury, and of payment from the single account of the treasury. This paper discusses what has to be done so that the small Croatian government should have more control of the costs of the use of their funds.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA