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Croatia faces yet another year of recession extending throughout 2013. Growth should finally rebound in 2014, provided investments pick up and external demand strengthens. Owing to rising and persistently high unemployment, private consumption will remain suppressed. Fiscal consolidation and structural reforms will remain the major challenge in the years ahead. Joining the EU may help to increase foreign investor confidence, while regional trade will suffer.
|Main Economic Indicators||2010||2011||2012||2013||2014||2015|
|Population, 1000 persons.||4419||4285||4268||.||.||.|
|GDP, real change in %||-2.3||0.0||-2.0||-1.0||0.8||1.5|
|GDP per capita (EUR at PPP)||14300||15200||15600||.||.||.|
|Gross industrial production, real change in %||-1.4||-1.2||-5.5||.||.||.|
|Unemployment rate - LFS, in %, average||11.8||13.5||15.9||17.5||17.0||17.5|
|Average gross monthly wages, EUR||1054||1049||1048||.||.||.|
|Consumer prices, % p.a.||1.1||2.3||3.4||3.5||2.5||2.0|
|Fiscal balance in % of GDP||-6.4||-7.8||-4.9||.||.||.|
|Public debt in % of GDP||44.9||51.6||55.5||.||.||.|
|Current account in % of GDP||-1.0||-0.9||0.1||0.9||0.1||-0.6|
|FDI inflow, EUR mn||318||1101||1067||.||.||.|
|Gross external debt in % of GDP||104.6||103.3||102.1||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Croatia: Joining EU under difficult conditions
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 69-70 Details and Buy
Monthly Report No. 11/2013
Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner and Olga Pindyuk
wiiw Monthly Report No. 11, November 2013
38 pages including 17 Tables Details