natgillin/translations-raw huggingface dataset:
The Law introduces the electronic Excise Movement and Control System (EMCS) into the territory of the Republic of Croatia as of March 1, 2013; as of the day of accession to the EU, it will be established between the Republic of Croatia and other EU member states. 
Zakonom se od 1. ožujka 2013. na teritoriju RH uvodi elektronički Sustav kontrole kretanja trošarinskih proizvoda (Excise Movement Control System - EMCS), a s danom pristupa EU-u uspostavlja se i između RH i drugih država članica EU-a.
Although minimum rates and taxable products are prescribed in the harmonised system of the EU, there are in fact considerable differences among the countries. 
Premda su u harmoniziranom sustavu EU-a propisane minimalne stope i oporezivi proizvodi, među zemljama još uvijek postoje znatne razlike.
For the purpose of providing an outline picture, the minimal prescribed and the actual rates applied in some EU countries and in the Republic of Croatia are displayed. 
Radi dobivanja okvirne slike prikazuju se minimalno propisane i stvarne stope koje se primjenjuju u pojedinim zemljama EU-a i u RH.
The amount of excise duty on alcohol and alcoholic beverages is not changed by the new Law. 
Visina trošarine na alkohol i alkoholna pića nije promijenjena novim Zakonom.
The current rates in the Republic of Croatia are at a rate higher than those minimally prescribed in the EU, and as far as European regulations are concerned need not be changed. 
Sadašnje stope u RH na višoj su razini od minimalno propisanih u EU-u i što se tiče europskih propisa ne bi se trebale mijenjati.
On accession to the EU, the volume restrictions for commercial production outside the system of suspended payment of excise duties will be lifted. 
Pristupanjem EU-u ukidaju se količinska ograničenja za komercijalnu proizvodnju izvan sustava odgode plaćanja trošarine.
In the production and processing of non-food products, an exempt user of excise goods will not pay excise duty on ethyl alcohol partially denatured by regulation preparations. 
U proizvodnji i preradi neprehrambenih proizvoda, oslobođeni korisnik trošarinskih proizvoda ne plaća trošarinu na etilni alkohol koji je djelomično denaturiran propisanim sredstvima.
Minimum excise duty in the EU in euro 
Minimalna trošarina u EU (u eurima)
Minimum excise duty in the EU in kuna 
Minimalna EU trošarina (u kn)
40 kuna for 1% actual alcoholic strength in a hectolitre of finished product (hl/°alc) 
40 kn za 1% volumnog udjela stvarnog alkohola u hektolitru gotovog proizvoda (hl/°alc)
1.87 € hl/°alc 0.748 € hl/°Plato 
1,87 € hl/°alc 0,748 € hl/°Pato
13.89 kuna hl/°alc 5.55 kuna hl/°Plato 
13,89 kn hl/°alc 5,55 kn hl/°Plato
0 kuna/hl of finished product 
0 kn/hl gotovog proizvoda
5,300 kuna/hl or pure alcohol 
5.300 kn/hl čistog alkohola
550 €/hl of pure alcohol 4,084.03 kuna/hl 
550 €/hl čistog alkohola 4.084,03 kn/hl
Source: European Commission (2013a); Zakon o trošarinama. 
Izvor: European commission (2013a); Zakon o trošarinama.
In the Republic of Croatia, every alcoholic product is taxed at a single rate, but in the EU for all categories of goods there are one or more standard and reduced rates. 
Svaki alkoholni proizvod se u RH oporezuje jednom stopom, dok u EU-u za sve kategorije proizvoda postoji jedna ili više općih i sniženih stopa.
Standard rates can be higher or lower, for example, in the case of beer, where the rate relates on the malt concentration or the proportion of alcohol. 
Općih stopa može biti i više, primjerice kod piva, gdje stope ovise o koncentraciji sladovine ili udjelu alkohola.
Reduced rates depend on the produced quantity, and are applied to the beers of small independent breweries with an annual production of up to 200,000 hl (and the rate may not be lower than 50% of the standard rate). 
Snižene stope ovise o proizvedenoj količini, a primjenjuju se na pivo nezavisnih malih proizvođača s godišnjom proizvodnjom do 200.000 hl (stopa ne može biti niža od 50% opće stope).
In the new Croatian Law (ZOT) no special rates for small breweries are provided. 
U ZOT-u nisu određene posebne stope za male proizvođače piva.
According to these criteria, the rate in the Republic of Croatia is the lowest, for beer is taxed only according to a single rate and according to only one criterion (1% volume proportion of actual alcohol in a hectolitre of finished product). 
Prema ovim kriterijima, stopa u Hrvatskoj je najniža jer se pivo oporezuje samo jednom stopom i prema samo jednom kriteriju (1% volumnog udjela stvarnog alkohola u hektolitru gotovog proizvoda).
Note: AT-Austria, BE-Belgium, BG-Bulgaria, CY-Cyprus, CZ-Czech R, DE-Germany, DK-Denmark, EE-Estonia, EL-Greece, ES-Spain, 
Španjolska, FI-Finska, FR-Francuska, HU-Mađarska, IE-Irska, IT-Italija, LT-Litva, LU-Luksemburg, LV-Latvija, MT-Malta, NL
FI-Finland, FR-France, HU-Hungary, IE-Ireland, IT-Italy, LT-Lithuania, LU-Luxembourg, LV-Latvia, MT-Malta, NL-Netherlands, PL 
Nizozemska, PL-Poljska, PT-Portugal, RO-Rumunjska, SE-Švedska, SI-Slovenija, SK-Slovačka, UK-Velika Britanija.
Most countries apply a standard zero rate to wine and in a lesser extent to sparkling wine. 
Većina zemalja primjenjuje opću nultu stopu na vina i u manjoj mjeri na pjenušava vina.
In comparison with EU countries, the rate on ethyl alcohol in the Republic of Croatia (713 euro/hl) is among the lowest, matched only by Bulgaria (562 euro/hl). 
U usporedbi sa zemljama EU-a, stopa na etilni alkohol u Hrvatskoj (713 eura/hl) je uz Bugarsku (562 eura/hl) među najnižima.
The highest rates are levied in Sweden (5,950 euro/hl), Finland (4,340 euro/hl) and the UK (3,360 euro/hl). 
Najviše stope primjenjuju se u Švedskoj (5.950 eura/hl), Finskoj (4.340 eura/hl) i u UK-u (3.360 eura/hl).
A reduced rate on ethyl alcohol in the EU is applied to low strength spirits and in particular regions and for small distilleries the annual production of which comes up to 10 hl of pure alcohol. 
Snižena stopa na etilni alkohol u EU-u primjenjuje se za "blaža" žestoka pića te u nekim regijama i za male destilerije čija je godišnja proizvodnja do 10 hl čistog alkohola.
Small producers of spirits in Croatia are those that produce up to 20 litres pure alcohol per household for personal use. 
Mali proizvođači jakog alkoholnog pića u Hrvatskoj su oni koji proizvode za vlastite potrebe do 20 litara čistog alkohola godišnje po kućanstvu.
The tax is charged according to the capacity of the still (100 litres - 100 kuna, greater than 100 litres - 200 kuna). 
Porez se plaća prema zapremnini kotla (100 litara = 100 kuna, veći od 100 litara = 200 kuna).
If they produce a greater quantity of spirits, an excise rate of 5,300 kuna/hl of pure alcohol is charged, as for all others liable to pay the tax. 
Ukoliko proizvedu veću količinu jakoga alkoholnog pića, primjenjuje se stopa trošarina kao i za ostale obveznike (5.300 kn/hl čistog alkohola).
Austria, Bulgaria, Cyprus, Czech R, Greece, Germany, Italy, Luxembourg, Hungary, Malta, Portugal, Romania, Slovenia, Slovakia and Spain. 
Novim Zakonom usklađuju se definicije duhanskih prerađevina i visine trošarina na cigarete.
Only Ireland (275 euro/1,000 items), the UK (243 euro/1,000 items), Estonia (211/1,000 items) and Cyprus (90 euro/1,000 items) have a higher rate of specific excise on cigars. 
Višu stopu specifične trošarine na cigare imaju samo Irska (275 eura/1.000 komada), UK (243 eura/1.000 komada), Estonija (211 eura/1.000 komada) i Cipar (90 eura/1.000 komada).
On accession to the EU the excise on fine cut tobacco will increase, and the rise will continue in the following years. 
Pristupanjem EU-u povećava se trošarina na sitno rezani duhan čiji rast će se nastaviti i u sljedećim godinama.
An almost 50% rise in the rate is expected for other smoking tobacco, which is in line with EC recommendations so that for the sake of competition among tobacco products, particularly among cigarettes and other kinds of tobacco for smoking (which are equally harmful) the tax burden (i.e. rates) need equalising as much as possible. 
Gotovo 50%-tni rast stope očekuje se i za ostali duhan za pušenje što je u skladu s preporukama Europske komisije da zbog konkurentnosti među duhanskim proizvodima, posebice cigaretama i ostalim duhanima za pušenje (koji su jednako štetni) treba čim više izjednačavati porezno opterećenje (stope).
Amount of excise duty in the RC 
Visina trošarine u Hrvatskoj
Amount of excise duty in the RC after accession to the EU 
Visina trošarine u Hrvatskoj nakon pristupanja EU
Minimum excise duty in the EU 
Minimalna trošarina u EU
57% share of total excise in WAP; - from January 1, 2014. 60% share of total excise in WAP; 
57% udio ukupne trošarine u WAP-u; - od 1. siječnja 2014. 60% udio ukupne trošarine u WAP-u;
349 kuna/kg 401 kuna/kg 446 kuna/kg 446 kuna/kg 
349 kn/kg 401 kn/kg 446 kn/kg 446 kn/kg
Other smoking tobacco 
Ostali duhan za pušenje
Apart from fiscal reasons, there are ever more important ecological reasons for taxing energy products, which has affected the rise and increasing differentiation of the rates. 
Osim fiskalnih, sve značajniji razlozi oporezivanja energenata su ekološki što je utjecalo na rast i sve veću diferencijaciju stopa.
All countriesincluding Croatia - have in common the fact that it is precisely revenues from energy product excises that have the greatest share in the totally revenues of excises. 
Svim zemljama - uključujući i Hrvatsku - zajedničko je da najveći udio u ukupno naplaćenim trošarinama imaju upravo prihodi od trošarina na energente.
It can be seen from Table 3 that the rates are on the whole harmonised with the minimally prescribed rates, except that they are lower for LPG and natural gas that is used for propellant. 
Iz tablice 3. je vidljivo da su sve stope uglavnom usklađene s minimalno propisanima, osim što su niže na UNP i prirodni plin koji služe kao pogonsko gorivo.
The rates will be raised on gas oil for propellant use (4%) and on kerosene - paraffin (9%). 
Povećat će se stope na plinsko ulje za pogonsko gorivo (4%) i na kerozin - petrolej (9%).
electricity, the rates of which are on the whole at the level of the minimum, and are higher on natural gas meant for heating. 
Najznačajnija se odnose na prirodni plin i električnu energiju koji se koriste u kućanstvima te na plin za pogon.
• energy products that are used as propellant for navigation, including fishing and electrical energy produced on a vessel (apart from the use of vessels and floating vessels for private purposes); 
• i dalje se primjenjuju postojeća oslobođenja za dizelsko gorivo (plavi dizel) namijenjeno poljoprivredi, ribarstvu i u akvakulturi, uz uvođenje oslobođenja na označeno plinsko ulje za pogonsko gorivo u nacionalnoj komercijalnoj plovidbi na međunarodnim linijama, domaćim vodama i unutar države članice.
• energy products that are used as aviation fuel (except for use for private flights). 
Belgija, Cipar, Njemačka, Nizozemska, Finska, Švedska, Ujedinjeno Kraljevstvo i Litva.
Minimum excise duty in the EU (in euro) 
Visina trošarine u Hrvatskoj nakon pristupanja EU-u
Gas oil (diesel) motor fuel 
Plinsko ulje (dizel) za pogon
industrial and commercial use* 
industrijska i komercijalna uporaba*
Kerosene - paraffin for motors 
Kerozin - petrolej za pogon
LPG - Liquefied petroleum gas for motors 
UNP - ukapljeni naftni plin za pogon
for heating (business/nonbusiness) 
za grijanje (poslovna/neposlovna)
Heavy heating oil business 
Teško loživo ulje - za grijanje poslovno
Natural gas for motors 
Prirodni plin za pogon
for heating - non-business 
za grijanje - neposlovna uporaba
8.10 kuna/MWh (29.6 kuna/GJ) 
8,10 kn/MWh (29,6 kn/GJ)
for heating - business use 
za grijanje - poslovna uporaba
Coal and coke non-business use 
Ugljen i koks neposlovna uporaba
Electricity non-business use 
Električna energija neposlovna uporaba
0.5 EUR/MWh 3.71 kuna/MWh 
0,5 EUR/MWh 3,71 kn/MWh
Although in the new Law on Excises the rates of excise duties are by and large harmonised with the minimal rates prescribed in the Directives, in the future we will be greeted with a further rise in the rates (on cigarettes and fine cut tobacco for smoking). 
Premda su novim Zakonom o trošarinama stope trošarina u najvećem dijelu usklađene s minimalnim stopama propisanim Direktivama, u budućnosti nas očekuje daljnji porast stopa (na cigarete i sitno rezani duhan za pušenje).
Apart from a general (single) rate that is applied to excise products in Croatia and the EU there are differences in the number of rates, and under certain conditions reduced rates will be applied to the same products. 
Osim opće (jedne) stope koja se primjenjuje na trošarinske proizvode u Hrvatskoj u EU-u postoje razlike i u broju stopa, pa se na iste proizvode - pod određenim uvjetima - primjenjuju i snižene stope.
In the taxation of energy products the lower rates on LPG and natural gas for motor fuel are not harmonised. 
U oporezivanju energenata neusklađene su (niže) stope na UNP i prirodni plin za pogon.
Directive 2003/96/EU prescribes that energy products (gas oil - diesel, kerosene - paraffin, LPG and natural gas) meant for industrial and commercial use are taxed, which the new Law on Excises has not yet enjoined. 
Direktiva 2003/96/EU propisuje da se energenti (plinsko ulje - dizel, kerozin - petrolej, UNP i prirodni plin) namijenjeni industrijskoj i komercijalnoj uporabi oporezuju, što novi Zakon o trošarinama zasad ne propisuje.
The rate of VAT in the Republic of Croatia is one of the highest in the EU and, which is more important still, higher than the rate in neighbouring countries (save for Hungary). 
Stopa PDV-a u RH jedna je od najviših u EU-u i - što je još važnije - viša je od stopa u susjednim zemljama (osim Mađarske).
In spite of lower excises, the prices of excisable products in the Republic of Croatia might be higher, which would encourage legal as well as illegal cross-border purchasing, and thus lead to a reduction of tax revenues. 
I uz nižu trošarinu, cijene trošarinskih proizvoda u Hrvatskoj mogu biti više, što potiče legalnu, ali i ilegalnu prekograničnu kupovinu, a time i smanjenje poreznih prihoda.
The new Law on Excises also includes new and more detailed provisions about the conduct of supervision (more effective legal framework for suppressing, preventing and penalising illegalities and tax evasion) and more comprehensive measures and activities preventing offences and punishing offenders. 
Novi Zakon o trošarinama donosi i nove, detaljnije odredbe o provedbi nadzora (učinkovitiji pravni okvir za suzbijanje, sprečavanje i sankcioniranje nezakonitosti i porezne evazije) i obuhvatnije mjere i aktivnosti u sprečavanju prekršajnih djela i kažnjavanju počinitelja.
The result is an improvement of the financial position of LGUs, that is, a balancing of their budgets, and even the appearance of budgetary surpluses from 2002. 
Rezultat je poboljšanje financijske pozicije lokalnih jedinica odnosno uravnoteenje proraèuna, èak i pojava proraèunskih suficita od 2002. godine.
Local government units borrowing in Croatia: Local government units borrowing in Croatia: opportunities and constraints opportunities and constraints 
Zadu ivanje lokalnih jedinica u Hrvatskoj: Zadu ivanje lokalnih jedinica u Hrvatskoj: moguænosti i ogranièenja moguænosti i ogranièenja
The objective of this article is to demonstrate that the financial position of local government units (LGUs) is improving and that their liquid resources (financial assets) exceed their financial liabilities. 
Cilj je ovog teksta pokazati da se financijski polo aj lokalnih jedinica poboljšava i da njihova likvidna sredstva premašuju njihove obveze.
The Government and the Ministry of Finance hence must determine the reasons for the increased solvency of LGUs, put a brake on their borrowing, reduce the set limit and impose additional constraints on borrowing, leave the financing of capital projects to the commercial banks and define separate constraints for borrowing by the City of Zagreb and by other LGUs. 
Vlada i Ministarstvo financija stoga moraju utvrditi razloge poveæane likvidnosti lokalnih jedinica, usporiti njihovo zaduivanje, smanjiti utvrðeni limit i dodatna ogranièenja zadu ivanja, prepustiti financiranje kapitalnih projekata poslovnim bankama te odvojeno utvrditi ogranièenja zadu ivanja Grada Zagreba i ostalih lokalnih jedinica.
The financial position of the local government units 
Financijski polo aj lokalnih jedinica
From 2000 on the financial position of the LGUs has been improving. 
Od 2000. godine financijski se polo aj lokalnih jedinica poboljšava.
There are many reasons, but the most important is that in 2001 the process of fiscal decentralisation started (in elementary and secondary education, health care and welfare) according to which authorities as well as resources for their financing from the central government budget in the 
Razlozi su brojni, ali je najbitnije da je od 2001. godine zapoèeo proces fiskalne decentralizacije (osnovnoga i srednjeg školstva, zdravstva i socijalne skrbi) na temelju kojega su lokalnim jedinicama prenesene ovlasti, ali i sredstva za financiranje iz dr avnog proraèuna u obliku potpora.
The total gross debt of LGUs rose from 270 million kuna in 1997 to 2 billion kuna in 2003. 
Ukupan bruto duglokalnih jedinica poveæao se s 270 mil. kn u 1997. godini na 2 mlrd. kn u 2003. godini.
Local government units borrowing in Croatia 
Zaduivanje lokalnih jedinica u Hrvatskoj
In 2003 the situation improved and 85% fulfilled the basic (first) condition for borrowing. 
U 2003. godini stanje se poboljšava te je 85% ispunjavalo osnovni (prvi) uvjet za zadu ivanje.
Conditions for local government units borrowing 
Uvjeti za zadu ivanja lokalnih jedinica
All LGUs (municipalities, cities, counties) can assume long-term debt by taking on loans on the domestic money and capital market, and also by becoming indebted to contractors (suppliers), although exclusively for capital projects of reconstruction and development that are financed from their budgets. 
Sve lokalne jedinice (opæine, gradovi i upanije) mogu se zadu iti dugoroèno, uzimanjem kredita na domaæem tr ištu novca i kapitala, te kod izvoðaèa radova, iskljuèivo za kapitalni projekt obnove i razvoja (investiciju) koji se financira iz njihova proraèuna.
They borrow pursuant to a decision from the representative body of the LGU with the prior consent of the Government. 
Zadu uju se na temelju odluke predstavnièkog tijela lokalne jedinice uz prethodnu suglasnost Vlade.
Permitted purpose of borrowing 
Dopuštena namjena zaduivanja
Annual borrowing limit (annual servicing) 
Godišnji limit zaduivanja (godišnja obveza)
sum of mean annual annuity on loans, guarantees from previous years issued, and short-term outstanding liabilities 
ukljuèen iznos prosjeènoga godišnjeg anuiteta po kreditima, danim jamstvima iz prethodnih godina, te kratkoroènih nepodmirenih obveza
3% of revenue of all LGUs 
3% prihoda svih lokalnih jedinica
Source: Official Gazette 
Izvor: Narodne novine
As against this, the financial liabilities are expressed in terms of market value, for they concern loans and other contractual liabilities the market value of which is easy to assess. 
Financijsku imovinu lokalnih jedinica èine novac u blagajni, depoziti, dani zajmovi, vrijednosni papiri te dionice i udjeli u glavnici institucija unutar ili izvan javnog sektora.
However, in some periods, HBOR interest rates did not essential differ from the rates of the commercial banks, and sometimes even exceeded the rates of these banks. 
en tr išnom vrijednosti, jer se dionicama poduzeæa u kojima lokalne jedinice imaju udjele ne trguje aktivno na burzi, pa je raèunovodstvena vrijednost tih udjela vjerojatno mnogo veæa od tr išne vrijednosti.
LGUs did not get involved in any very active way in the capital market via the issue of bonds. 
infrastrukturnih projekata te za podmirenje dugova prema dobavljaèima.
LGUs on the whole used bonds to finance municipal infrastructure projects (pools, schools, roads and so on). 
Lokalne jedinice obveznicama uglavnom financiraju projekte komunalne infrastrukture (bazeni, škole, prometnice i sl.).
Are local government units over-indebted? 
Jesu li lokalne jedinice prezadu ene?
Apart from the gross debt, net debt can also serve as one of the indicators of the financial position of LGUs. 
Osim bruto duga, kao jedan od pokazatelja financijskog polo aja lokalnih jedinica slu i i neto dug.
Net debt is the difference between the financial assets and the financial liabilities, and is a useful indicator of liquidity and the capacity of LGUs to service principal and interest on existing debt. 
Neto dug je razlika izmeðu financijske imovine i financijskih obveza te je koristan pokazatelj likvidnosti i sposobnosti lokalnih jedinca u otplati glavnice i kamata postojeæeg duga.
Source: Author's calculations, Ministry of Finance (2004) and Croatian National Bank (2004) 
Izvor: Autorov izraèun, Ministarstvo financija (2004); HNB (2004)
The City of Zagreb constantly has the average greatest share in the annual amount of borrowing. 
Lokalne su se jedinice kratkoroèno zadu ivale kod banaka uglavnom uz nepovoljnije kamatne stope.
LGUs used all instruments for borrowing, from the issue of bonds, taking of loans, to becoming indebted to contractors. 
HBOR kao dr avna banka treba osiguravati povoljnije uvjete zadu ivanja (tzv. soft loans) putem fondova ili samostalno.
LGUs on the whole secured short-term accommodation from the banks with rather unfavourable rates of interest. 
Samo su tri lokalne jedinice sa stabilnim fiskalnim kapacitetima uspjele izdati obveznice, uglavnom za financiranje
Local government units borrowing in Croatia 
Zadu ivanje lokalnih jedinica u Hrvatskoj
From 2001 the financial assets of LGUs were greater than their financial liabilities. 
Od 2001. godine financijska imovina lokalnih jedinica veæa je od financijskih obveza.
In 2003, the net financial position (net debt) of LGUs was 1.3 billion kuna. 
U 2003. godini neto financijska pozicija (neto dug) lokalnih jedinica bio je 1,3 mlrd kn.
The financial assets available (mainly deposits) were larger than the liabilities (mainly for loans) of LGUs. 
Raspolo iva financijska imovina (uglavnom depoziti) veæi su od obveza (uglavnom za kredite) lokalnih jedinica.
It should be said that the greater part of the financial assets and liabilities of LGUs in 2003 related to the City of Zagreb. 
Treba napomenuti da se najveæi dio financijske imovine i obveze lokalnih jedinica u 2003. godini odnosi na Grad Zagreb.
The financial assets of the City of Zagreb constitute 42% of the financial assets and 45% of all the liabilities of all LGUs. 
Financijska imovina Grada Zagreba èini 42% financijske imovine te 45% ukupnih obveza svih lokalnih jedinica.
Conclusion and recommendations 
Zakljuèak i preporuke
The increase in the financial assets of LGUs additionally shows that LGUs mainly have liquid resources that exceed the amount of their liabilities. 
Poveæanje financijske imovine lokalnih jedinica dodatno pokazuje da lokalne jedinice raspola u velikim dijelom likvidnih sredstava koja nadilaze velièinu obveza.
• The favourable financial position of the LGUs is the basic reason why the Government and the Ministry of Finance should slow down the rising dynamics of LGU borrowing. 
• Povoljna financijska pozicija lokalnih jedinica osnovni je razlog što Vlada i Ministarstvo financija trebaju usporiti rastuæu dinamiku zadu ivanja lokalnih jedinica.
• Budgetary restrictions on local government borrowing have been placed high. 
• Proraèunska ogranièenja na zadu ivanje lokalnih jedinica visoko su postavljena.
The Government and the Ministry of Finance should reduce the set limit of 20% of the revenue of LGUs for borrowing, as well as the additional restriction of 3% of the revenue of all LGUs. 
Vlada i Ministarstvo financija trebaju smanjiti utvrðeni limit od 20% prihoda lokalnih jedinica za zaduivanje, kao i dodatno ogranièenje od 3% prihoda svih lokalnih jedinica.
• The financing of capital projects, in conditions of the reduction of interest rates, should be left directly to the commercial banks, without any involvement of government financial institutions. 
• Financiranje kapitalnih projekata u uvjetima smanjenja kamatnih stopa trebalo bi izravno prepustiti poslovnim bankama, bez upletanja dravnih financijskih institucija.