Croatia issues new strategy for shipbuilding and steel

Croatia issues new strategy for shipbuilding and steel

Croatian Economy Ministry Branko Vukelic has made a statement on new strategies to be implemented on shipyard and steel sectors in 2005. In line with the statement, the Uljanik shipyard, currently run by the state will be privatized in 2005. The Minister also released a new program for restructuring of the whole shipbuilding sector. In 2005 budget, state subsidy for shipbuilding will be Kuna 405 million ($72 million), which is 10% less than the subsidy in 2004 budget. Besides, the state subsidies for the subject sector are planned to be reduced further in the long-run. Moreover, the Minister also stated that new strategy for iron and steel sector will soon be completed and solutions for ailing iron plants will be found.