engleski

Croatia: Economy

Since 2008, when the first negative effects of the global financial crisis were evident in the real sector, the Croatian economy has been faced with almost three years of recession (real GDP growth for this period amounted to a contraction of 7.2%). In 2009-2011 industrial production fell cumulatively by 11.9% indicating the severe structural weaknesses of the Croatian economy. Unemployment also started to increase in the first quarter of 2009, trend which also continued into 2012. The main problems continue to be low export competitiveness and a poor performance in new business start-ups which is closely linked to the continuing high level of state participation in the economy, the provision of subsidies to large loss-making industries and high levels of government expenditure. Regarding external factors, Croatia’s accession to full EU membership in July 2013 could benefit the economy, contributing to a stronger recovery in FDI and a faster rate of economic growth in the long term.

Croatia; Economic Development, Economic Perfomance, Economic Outlook

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