wiiw Forecast Reports

CROATIA: In the eye of the storm


Bernd Christoph Ströhm

in: No Quick Recovery in Sight, with Coronavirus Risks Looming Large
wiiw Forecast Report No. Autumn 2020, November 2020 , pp. 52-55

free download

The economy’s heavy reliance on tourism means that Croatia will suffer one of the biggest contractions in CESEE in 2020, with real GDP projected to decline by 9.4%. Unemployment will rise, and inflation will average 0% for the year as a whole. To mitigate the economic downturn caused by COVID-19, the government initiated a support package worth about 9% of GDP. The tourism sector should stage at least a partial recovery next year, which will underpin growth of around 5%.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Croatia