wiiw Forecast Reports
CROATIA: EU funds will support recovery
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in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 60-63
After 2015, Croatia witnessed an economic recovery; however, the COVID-19 pandemic stopped it in its tracks. GDP contracted by 8.4% in 2020, due largely to the pandemic’s devastating impact on the tourism sector, but also because the country was rocked by two earthquakes in March and December. EU aid will likely mitigate the earthquakes’ adverse effects on Croatia’s economic recovery, which is why we expect solid growth of 4.5% in 2021.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Croatia