President Milanović: Inflation is a Mortal Enemy of the Middle Class and People who Work to Make a Living

The President of the Republic Zoran Milanović attended today the anniversary ceremony marking the establishment of the company Metal Product Ltd., which is celebrating 55 years in business. President Milanović told the guests at the ceremony that there are not enough such companies in Croatia.

“This is a company that has become a small star. There are very few companies like yours. Why is that so? Because you export! In the ten or so years of Croatian membership in the European Union, you have exported 80% of what you produced. That’s great, if only there were more of you,” President Milanović said at the ceremony.

In his address at the ceremony, the President also talked about inflation, saying that today, after 29 years, we are facing inflation for the first time. “Inflation is a silent killer of the middle class and people who work to make a living, a mortal enemy. That disappeared in 1993 with the introduction of the anti-inflation programme as proposed by Mladen Vedriš and some other people, and since then we have not known what inflation is. Dealing with inflation, as it comes and goes, is similar to the situation in which an airplane suddenly loses control and tilts to one side, with the pilots and passengers not yet aware that the plane has tilted, having before them the illusion of a flat horizon,” President Milanović warned.

President Milanović commented on the situation in Europe and mentioned the destruction of the Nord Stream gas pipeline, wondering what consequences this would have. “What will happen this winter? What impact will this have on your export potential? Who will be the buyers of your goods? To what extent will they be reduced? Who will come to Croatia next year and spend euros? Apparently, there will be less money. These are new times. We have forgotten what war and inflation are like. These are all challenges for our economy. These are challenges for our tourism, on which we depend, and that is not good. These are challenges for these wonderful people who are accomplishing something. We are facing difficult times and I am sure that Mr. Šafran and companies like his, which are few, will emerge from these ugly times as courageous as they were before, if not more,” President Milanović concluded.

Special Adviser to the President of the Republic for the Economy Velibor Mačkić was alongside President Milanović at the ceremony.

PHOTO: Office of the President of the Republic of Croatia / Filip Glas