ZAGREB, Feb. 26 (Xinhua) -- Top Croatian officials on Thursday announced new reforms would be introduced in order to cope with numerous macroeconomic imbalances.

Croatian Finance Minister Boris Lalovac said reforms were needed and would be implemented in the upcoming months. He said cuts and savings in public spending were already being worked upon, and that the government would study which sectors needed reforms.

"It is hard to fight a six-year-long economic recession," he added, calling for patience.

Branko Grcic, vice prime minister and minister of regional development and EU funds, the government would make a "new corrected national program of reforms on the platform of what was made this year."

The new set of reforms has to be made for the upcoming year and business cycle, with having the final result in mind, he added.

On Wednesday, the European Commission (EC) published a report with an analysis of the economic situation in Croatia, finding excessive macroeconomic imbalances for the second time in a row.

The EC warned that if these imbalances continued till May, Croatia would have to undergo excessive imbalance procedures.

The EC's report said that the situation demanded "decisive political action and special monitoring," while Croatia would have to pass a national reforms program and introduce structural reforms by May in order to prevent a special procedure.

Some of the reasons behind the imbalances were subdued economic growth, delayed restructuring of companies and large unemployment, the report said.