EU Financial Package For Croatia
On monday the European Union General Affairs and External Relations Council in Brussels adopted a draft financial package for the first two years of Croatia EU membership. The package has been prepared by the European Commission on the working assumption that Croatia will join the bloc in January 2012.
In the first two years of EU membership, namely in 2012 and 2013, a total of EUR 3.568 billion of EU budgetary funds will be allocated to Croatia. Croatia will be able to access most of this amount through Cohesion and structural funds and in the first two years it will be able to draw a total of EUR 2.205 billion.
This is excellent news for the Croatian property market, since inward investment will continue to improve the countries infrastructure and economic development, the combination of which will have a positive effect on real estate prices in Croatia.
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