The European Union and Croatian flag is seen in Zagreb's downtown July 1, 2013. REUTERS/Antonio Bronic
BRUSSELS (Reuters) - European Union finance ministers launched disciplinary steps against Croatia, the EU's newest member, on Tuesday for running an excessively large budget deficit and Zagreb until 2016 to bring the shortfall to within EU limits.
Croatia, which joined the EU last July, has had a budget deficit of more than five percent of gross domestic product since 2009. EU rules set the ceiling for a government shortfall at 3 percent.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
