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Green fund seeks approval for greater deficit

July 19, 2016 | Comments: 0Author:

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As the previous government planned tenders and public calls for energy renovation of houses and buildings unrealistically and in a financially unsustainable way, the budget of the Environmental Protection and Energy Efficiency Fund (FZOEU) for this year and next was burdened with HRK 750 million (EUR 100 million) of obligations which are difficult to settle, acting director Ljubomir Majdandžić said.

He stressed the fund has contracted a large number of projects and now current liabilities are greater than income. Therefore, according to Majdandžić, FZOEU will request approval for the overdraft on its account in the amount of up to EUR 13.4 million from the government for financial liquidity.

Revenues of FZOEU were affected by the policy of reducing legal fees paid by polluters.

Revenues of FZOEU were affected by the policy of reducing non-tax fees based on the environmental charge for motor vehicles, the abolition of the returnable fee for packaging of milk and milk products and other items. It said lower share prices of emission allowances on European exchanges were the reasons it will earn EUR 13.4 million less this year.

FZOEU is a non-budgetary institution with accounts filled by legal fees paid by polluters. Revenues are used to finance projects of energy efficiency, environmental protection and nature, as well as to finance the system for managing special categories of waste, Majdandžić explained. Financial plan for this year foresees revenues and receipts at EUR 214 million, he added.