PRESS RELEASE, September 16, 2004
AMENDMENT TO THE 2003 ANNUAL REPORT OF THE CROATIAN NATIONAL BANK

The chapter entitled Macroeconomic Developments, item 1.2.8 Government Finance (pages 94 and 97), shows the consolidated general government deficit amounting to HRK 9.8bn (5.1% of GDP). The deficit is shown on a cash basis, according to Ministry of Finance data.

On the modified accrual basis including total arrears and unrecorded liabilities - according to the Ministry of Finance data - the consolidated general government deficit in 2003 amounted to HRK 12.2bn (6.3% of GDP).