Luke 21:11 There will be great earthquakes, famines and pestilences in various places, and fearful events and great signs from heaven.
Poor residents of Croatia is going to breathe easier on Monday when the government cancels all debt.
The move by the government is aimed to “kickstart the nation’s economy”
Any citizen earning under $184 U.S. dollars a month, rent their property and unable to pay off debts will get up to $5,146 wiped away. Power companies, loan brokers, banks and phone companies are part of the businesses that will have to swallow the losses.
“We are doing all we can to make people’s lives easier in this protracted and strenuous crisis and give them a chance for a fresh start,” Prime Minister Zoran Milanovic said in a press conference.
Officials estimate that 60,000 Croatians will be receiving debt relief under the plan. The action will cost creditors as much as $309 million U.S. according to estimates.
Croatia has been suffering from a massive recession for seven years.
Sounds good until you read the entire article. The government is not forgiving loans. They are making private companies forgive loans. Who will pay for this? The other users of the companies can expect a rise in their bills.
Very good!! Croatia is honoring the Shemitah year! That nation will be blessed. Other Nations should follow their lead.