25th October 2018, Department for International Economic and Political Relations
The authors Nevenka Čučković, PhD (IRMO) and Valentina Vučković, PhD (EFZG) published a chapter on Croatian economy in the Yearbook “Central and South-Eastern Europe 2019” edited by Imogen Gladman and published by Routledge, London, UK. The authors are regular contributors to the Yearbook since 2009.
The chapter brings an analysis of the most important economic indicators for the Croatian economy in 2017 and an assessment of economic outlook for 2018 and 2019. The text includes the analysis of the main macroeconomic indicators as well as the trends in sectoral economic performance, with particular emphasis on the macroeconomic policy, foreign trade, fiscal and monetary policy, private sector development, FDI, labour market, housing, education and social policy. The post-recession recovery of Croatian economy continued also in 2017 with GDP growth rate of 3% which was in line with macroeconomic forecasts. Growth prospects for 2018 remain stable and around 2.8-3.0%, but with signs of slowing down to the level of 2.6-2.8% for the year 2019. The forcast is based on continuence of positive effects on the country’s economic outlook stemming from increase of tourism earnings, further growth of personnal consumption and investments, as well as on effects of better budget balancing and public debt management. On the other hamd, major risks for sustainibility of these positive effects are related to implementation of health, pension and public sector reforms as well as inadequate apsorption of avalable EU funds.
Yearbook “Central and South-Eastern Europe 2019”