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Croatia's Path in the Recession

This paper explores the state and dynamic path of Croatian economics before and during the recession that began in the middle of 2008. From its independence until today Croatia has been through various phases of economic growth. The basic characteristic of the whole process is its lack of strong economic growth. New circumstances and challenges have been brought to Croatian economics by the „global“ crisis which began at the end of 2007. Economic difficulties which Croatian economics has been facing for years such as the „global“ economic crisis haven't made things easier. The decrease of production, lack of investments in the industrial sector, consumer pessimism, unemployment increase and reduction of existing salaries are some of the leading characteristics of the recession in Croatia. Future trends will not only depend on the dynamics of the world's economic recovery, especially the European Union's, but the countries' abilities to adhere to structural adjustment and to the establishment of an investment cycle.

economy, recession, expectations, Croatia

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