wiiw Forecast Reports

CROATIA: War taking its toll on economic growth

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Bernd Christoph Ströhm

in: Overshadowed by War and Sanctions
wiiw Forecast Report No. Spring 2022, April 2022 , pp. 53-56

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The Croatian economy has made a full recovery from the COVID-19 pandemic, with GDP increasing by 10.4% year on year in 2021. However, Russia’s invasion of Ukraine has generated much uncertainty regarding Croatia’s growth prospects for 2022. The surging energy costs, which are serving to boost inflation, will put pressure on government spending plans and will slow private consumption in 2022. The spill-over effects of the war will also adversely affect Croatia’s summer tourist season, which is why we have adjusted the forecast for this year’s GDP growth downward to 3.5%.

 

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

Countries covered: Croatia


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