Croatia's economic stabilization program: third time unlucky?

The Croatian government began an economic stabilization program in Oct 1993 that will first try to reduce the country's inflation. Inflation was at a monthly level of 30% at the time of the program's implementation. Tighter control of the currency, tax reform and wage restrictions in the public sector are being used to bring monthly inflation down to 10-12%. However, organized labor and those in the business sector are ambivalent about the reforms. Dissent in Croatia's ruling party is also lessening confidence in the new programs.