Croatian audiovisual sector pumps cash into state budget


    ZAGREB: The Croatian audiovisual industry pays back 1.5 to 2.3 HRK into the state budget for every HRK that the government spends in subsidizing the AV sector, according to a recent government study.  

    The study conducted by the Institute of Public Finance of Croatia said that the AV industry in Croatia had grown by almost 25% in pre-tax profits in 2011 compared to 2007.

    “The annual impact made by the audiovisual sector exceeds the amount of state subsidy, which annually amounts to 70 million HRK. Every subsidised kuna in production gives back 1.5 to 2.3 kuna back to the state budget”, according to professor Ante Bajo from the Institute of Public Finance.

    The results of the study titled Economic and Financial Impacts of Audiovisual Activities and State Subsidies were recently presented by Croatian Audiovisual Centre to the members of the Parliament's Committee for Education, Science and Culture and the Committee for Tourism.