Croatia : Railway Policy Note

The note first presents a brief overview of the Croatian railway sector, listing the main challenges that it is currently facing, and identifying the main areas of intervention for the development of a financially sustainable sector, which should g...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Zagreb: World Bank 2013
Subjects:	ACCOUNTABILITY ACTUAL COST ALTERNATIVE TRANSPORT CAPITAL INVESTMENT CAPITAL SUBSIDIES COMMUTERS CONCRETE CONGESTION CONSOLIDATION COST CENTERS COST RECOVERY RATIO CROSSING DEBT DEREGULATION DOMESTIC TRAFFIC DOMESTIC TRANSPORT DRIVERS ECONOMIC ACTIVITY EFFICIENCY OF INFRASTRUCTURE EMISSIONS ENGINE ENVIRONMENTAL EXPENDITURES EXTERNAL COSTS FATALITIES FINANCIAL DATA FINANCIAL PERFORMANCE FINANCIAL RESOURCES FINANCIAL STABILITY FISCAL POLICIES FIXED COSTS FLEETS FREIGHT FREIGHT INDUSTRY FREIGHT TRAFFIC FREIGHT TRANSPORT FREIGHT TRANSPORT MARKET FREIGHT WAGONS FUEL GRADE HIGH UNEMPLOYMENT HOLDING COMPANIES HUMAN RESOURCE MANAGEMENT INCOME INFRASTRUCTURE CHARGES INFRASTRUCTURE COSTS INTERNATIONAL RAIL KEY PERFORMANCE INDICATORS LABOR COSTS LABOR PRODUCTIVITY LAND TRANSPORT LEGAL FRAMEWORK LEGISLATION LIQUIDATION LIVING CONDITIONS LOCAL AUTHORITIES LOCAL GOVERNMENTS LOCOMOTIVE LOCOMOTIVES MANAGEMENT CONTRACTS MARKET DISTORTIONS MOBILITY MODE OF TRANSPORT MULTIMODAL TRANSPORT NEW ENTRANTS OPERATING COSTS PASSENGER PASSENGER COACHES PASSENGER SERVICE PASSENGER SERVICES PASSENGER TRAFFIC PASSENGER TRANSPORT PASSENGERS POLITICAL ECONOMY POLLUTION PORTS PRIVATIZATION PRODUCTIVITY PUBLIC PASSENGER TRANSPORT PUBLIC POLICIES PUBLIC SERVICE OBLIGATION RAIL RAIL CARGO RAIL CORRIDOR RAIL FREIGHT RAIL INFRASTRUCTURE RAIL INVESTMENTS RAIL MARKET RAIL NETWORK RAIL SAFETY RAIL SYSTEM RAIL TRANSPORT RAILWAY RAILWAY BUSINESS RAILWAY COMPANIES RAILWAY COMPANY RAILWAY FREIGHT RAILWAY INDUSTRY RAILWAY INFRASTRUCTURE RAILWAY INFRASTRUCTURE MANAGEMENT RAILWAY INVESTMENT RAILWAY LINE RAILWAY LINES RAILWAY NETWORK RAILWAY OPERATION RAILWAY OPERATOR RAILWAY OPERATORS RAILWAY PACKAGE RAILWAY PERFORMANCE RAILWAY POLICY RAILWAY REFORMS RAILWAY RESTRUCTURING RAILWAY SECTOR RAILWAY SECTOR REFORM RAILWAY SERVICE RAILWAY SERVICES RAILWAY SYSTEM RAILWAY TRAFFIC RAILWAY TRANSPORT RAILWAY TRANSPORT SECTOR RAILWAY UNDERTAKINGS RAILWAYS REGULATORY FRAMEWORK REORGANIZATION RETURN ON CAPITAL ROAD ROAD DEVELOPMENT ROAD HAULAGE ROAD HAULAGE INDUSTRY ROAD SECTOR ROAD TOLLS ROAD TRANSPORT ROADS ROLLING STOCK SAFETY AGENCY SERVICE CONTRACTS SOCIAL COSTS SPEED STATE INTERVENTION STRUCTURES SUBSIDIARIES SUBSIDIARY SUSTAINABLE DEVELOPMENT TRACK TRAFFIC TRAFFIC DENSITY TRAFFIC FLOWS TRAFFIC GROWTH TRAFFIC INTENSITY TRAFFIC MANAGEMENT TRAFFIC VOLUMES TRANSIT TRANSIT CORRIDOR TRANSPORT TRANSPORT CORRIDORS TRANSPORT DEMAND TRANSPORT INDUSTRY TRANSPORT INFRASTRUCTURE TRANSPORT MARKET TRANSPORT MODES TRANSPORT PLAN TRANSPORT POLICIES TRANSPORT SECTOR TRANSPORT SERVICE TRANSPORT SERVICES TRANSPORT SYSTEM TRANSPORT TARIFFS VOLUME OF TRAFFIC WAGES WAGONS
Online Access:	http://documents.worldbank.org/curated/en/2013/06/18019128/croatia-railway-policy-note-vol-1-2 http://hdl.handle.net/10986/16061

Description
Summary:	The note first presents a brief overview of the Croatian railway sector, listing the main challenges that it is currently facing, and identifying the main areas of intervention for the development of a financially sustainable sector, which should guide any thorough sector reform program in the long-run. Sector governance challenges are presented, outlining the sector's high dependency on state support, its organizational weaknesses, and its market distortions. This is followed by more detailed historical analysis of Croatian Railways (HZ) holding's performance, corporate governance issues, and investment needs. The operational and financial performance of each major line of business of HZ holding is assessed, highlighting their competitiveness issues. Following the adoption of the restructuring plan, the Bank team used a global financial model to identify measures that might be necessary to make the system sustainable in the long-run. The team considered a range of optimistic and pessimistic scenarios, which may call for additional measures to be taken to complement the measures laid out in the restructuring plan. The note concludes with the presentation of these scenarios, the targets that should be fixed to business lines in cost-cutting, and actions that the Government might take to ensure that the system is sustainable and to secure the successful integration of the Croatian railway sector into the European Union (EU). It highlights the choices that remain open to the Government in terms of sector spending and financial structuring of its support in a constrained fiscal environment.

Croatia : Railway Policy Note

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