Croatian deputy prime minister Branko Grcic said on Tuesday that the combined gross profit of 47 fully or majority state-owned companies rose to 2.72 billion kuna ($383.7 million/359.3 million euro) last year from 587 million kuna in 2013.
Grcic also said in a statement on the government's website that 22 state-owned companies deemed to be of strategic interest for the nation recorded a combined gross profit of 3.8 billion kuna in 2014 after making a gross profit of 1.1 billion kuna a year earlier.
Total investments of Croatia's state-owned companies amounted to 8.4 billion kuna in 2014.
These investments were mostly carried out with the proceeds of loans from commercial banks, backed with state guarantees, Grcic said, adding that in the future there will be less and less room for such state guarantees and the enterprises will have to make the best of available EU funding.
The total debt of the state-owned companies stands at over 66 billion kuna.
Croatia's general government deficit rose to 18.8 billion kuna last year, equivalent to 5.7% of the country's gross domestic product, from 17.67 million kuna in 2013, data of the country's statistics office showed.
Last week, the Croatian government decided to raise the excise duties on cigarettes and tobacco and on motor fuel to help deliver budget savings requested by the EU.
In January last year, the EU initiated an excessive deficit procedure against Croatia, the bloc's newest member state, in a push to ensure that the country's deficit and debt are brought back into line with the relevant requirements.