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Croatia remains bogged down in recession for the sixth consecutive year. Fiscal consolidation and the overly indebted enterprise sector are the key obstacles to growth. Household consumption remains depressed owing to high and persistent unemployment and continuing deleveraging. Economic recovery will depend primarily on external demand, a revival of private sector investment and increased absorption of EU funds.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||4283||4269||4254||.||.||.|
|GDP, real change in %||-0.3||-2.2||-0.9||-0.8||0.0||1.0|
|GDP per capita (EUR at PPP)||15400||15700||15800||.||.||.|
|Gross industrial production, real change in %||-1.2||-5.5||-1.8||.||.||.|
|Unemployment rate - LFS, in %, average||13.5||15.9||17.2||17.5||17.5||17.0|
|Average gross monthly wages, EUR||1049||1048||1048||.||.||.|
|Consumer prices, % p.a.||2.2||3.4||2.3||0.2||1.0||1.0|
|Fiscal balance in % of GDP||-7.7||-5.6||-5.2||.||.||.|
|Public debt in % of GDP||59.9||64.4||75.7||.||.||.|
|Current account in % of GDP||-0.9||-0.1||0.9||0.5||0.2||0.0|
|FDI inflow, EUR mn||1072||1068||550||.||.||.|
|Gross external debt in % of GDP||103.7||103.0||105.3||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
CROATIA: Recession continues
in: On Thin Ice: CESEE Core Resilient in the Face of EU Stagnation and the Ukraine Crisis
wiiw Forecast Report No. Autumn 2014, November 2014 , pp. 51-53 Details and Buy
Monthly Report No. 7-8/2014
Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures Details