Croatian Finance Minister

Marko Primorac is the current Minister of Finance of Croatia, appointed to the position in July 2022 as part of Andrej Plenković's second cabinet. He is a member of the Croatian Democratic Union (HDZ).

Primorac's background is primarily in academia. He holds a PhD in economics from the Faculty of Economics and Business at the University of Zagreb, where he also works as a professor, specializing in public finance. His academic work focuses on tax policy, fiscal decentralization, and the analysis of public debt.

Prior to his ministerial appointment, Primorac served as a state secretary within the Ministry of Finance, gaining valuable experience in the inner workings of the government's financial apparatus. This role allowed him to be involved in the creation and implementation of various fiscal policies before taking the helm as Minister.

Since assuming the role of Finance Minister, Primorac has navigated a complex economic landscape shaped by global inflation, the war in Ukraine, and Croatia's recent accession to the Eurozone. Key priorities under his leadership have included maintaining fiscal stability, managing public debt, and supporting economic growth while mitigating the effects of rising prices. He has emphasized the importance of responsible fiscal policy to ensure the long-term sustainability of Croatia's public finances.

A significant achievement during Primorac's tenure has been Croatia's successful adoption of the Euro in January 2023. He played a crucial role in overseeing the final preparations for the currency switchover, working closely with the Croatian National Bank and other relevant institutions. He has consistently highlighted the benefits of Eurozone membership for Croatia, including increased economic stability, reduced transaction costs, and greater integration into the European financial system.

Challenges facing Primorac include addressing inflationary pressures, particularly in energy and food prices, and ensuring that government policies effectively support vulnerable households and businesses. He is also responsible for managing the allocation of EU funds, particularly from the Recovery and Resilience Facility, to stimulate investment and drive structural reforms. Balancing the need for fiscal prudence with the imperative to support economic growth and social welfare remains a key task.

Primorac's approach to economic policy is generally considered fiscally conservative, emphasizing budgetary discipline and structural reforms to improve the competitiveness of the Croatian economy. He is seen as a technocrat with a strong understanding of public finance principles, bringing a data-driven approach to policymaking. His academic background provides a solid foundation for navigating the complexities of modern financial management, though he faces the ongoing challenge of translating theoretical knowledge into practical and politically feasible solutions.