THE POOR IN CROATIA HAD THEIR DEBTS CANCELED

THE POOR IN CROATIA HAD THEIR DEBTS CANCELED

Talk about Christmas coming early. Monday will bring a new dawn for many Croatia’s poor citizens as they will have all their debts wiped-out. The campaign which is dubbed “Fresh-Start” will see the government of Croatia helping out more than 317,000 poor Croatian’s who have seen their bank accounts being blocked due to debts that they have.
The number of people who are currently in debt in Croatia is very high given the fact that the country itself is not big. Croatia is a Mediterranean country with a population of 4.4 million people. That said the high numbers have become a major issue and an economic burden to the country. Croatia is just coming from a 6-year recession and issues such as the Croatia’s economy not growing are one of the reasons why the government wanted to clear the debts of its poor citizens.
"We assess that this measure will be applicable to some 60,000 citizens," Deputy Prime Minister Milanka Opacic was quoted as saying by Reuters. "Thus they will be given a chance for a new start without a burden of debt," Opacic said earlier this month.
For the poor citizens in Croatia to be eligible, one is required to fulfill some certain criterias which have been created by the government. For instance, their debt must not be higher than 35,000 kuna ($5,100) and their monthly income should not be lower than1,250 kuna ($138). They should also see to it that they don’t have any savings or own any property.
That said the success of this scheme is being doubted with some questioning whether this is the best way to help low-income people.

 

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