Croatia

Croatia’s authorities responded quickly to the pandemic and launched comprehensive stimulus packages to mitigate its effects. Given the serious decline in earnings from tourism, a major pillar of the country’s economy, wiiw estimates that GDP will contract by about 11% in 2020. A moderate upswing of 4% is expected in 2021. Despite the challenging conditions, the Croatian authorities are continuing their preparations to enter ERM II as a precondition for adoption of the euro.

map Croatia
        FORECAST*
Main Economic Indicators201720182019202020212022
Population, 1000 persons413040914067...
GDP, real change in %3.12.72.9-11.04.0.
GDP per capita (EUR at PPP)186001950020600...
Gross industrial production, real change in %1.4-1.00.6...
Unemployment rate - LFS, in %, average11.28.56.611.010.0.
Average gross monthly wages, EUR107911391182...
Consumer prices, % p.a.1.31.60.81.01.0.
Fiscal balance in % of GDP0.80.20.4...
Public debt in % of GDP77.874.773.2...
Current account in % of GDP3.41.92.5-5.0-1.0.
FDI inflow, EUR mn43710361234...
Gross external debt in % of GDP89.082.775.8...


Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.

Due to the unusually high level of uncertainty caused by COVID-19, we only present forecasts for 2020-2021.

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Monthly Report No. 5/2020

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures

Details

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CROATIA: Solid growth

Hermine Vidovic
in: Uncertainty in Turbulent Times
wiiw Forecast Report No. Spring 2020, March 2020 , pp. 79-82
Details and Buy


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