Croatia’s economy returned to a stable path of growth in 2016. Prospects are favourable as well, with annual GDP growth of up to 3% until the end of the forecasting period in 2019. The upswing will primarily be driven by a rise in domestic demand, both private consumption and investments. EU funding will play a major role in stimulating investments. Apart from fiscal consolidation, demographic changes will become a major challenge in the future.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||4236||4208||4190||.||.||.|
|GDP, real change in %||-0.5||1.6||2.9||2.8||2.9||3.0|
|GDP per capita (EUR at PPP)||16100||16700||17500||.||.||.|
|Gross industrial production, real change in %||1.2||2.7||5.4||.||.||.|
|Unemployment rate - LFS, in %, average||17.3||16.3||13.5||13.0||12.5||12.0|
|Average gross monthly wages, EUR||1042||1058||1035||.||.||.|
|Consumer prices, % p.a.||0.2||-0.3||-0.6||1.3||1.6||1.6|
|Fiscal balance in % of GDP||-5.4||-3.3||-2.2||.||.||.|
|Public debt in % of GDP||86.6||86.7||84.0||.||.||.|
|Current account in % of GDP||2.1||5.1||3.7||2.1||1.5||0.9|
|FDI inflow, EUR mn||2281||187||1200||.||.||.|
|Gross external debt in % of GDP||108.0||103.5||95.5||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
CROATIA: Robust growth expectations, at last
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 60-64 Details and Buy
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure