
Croatia Economic Outlook
June 7, 2022
The pace of year-on-year GDP growth moderated in Q1 but remained healthy nonetheless. A faster expansion in fixed investment was more than offset by softer increases in private and public consumption. Meanwhile, the external sector contributed positively to growth, likely supported by a recovering tourism sector. Economic growth should moderate in the current quarter, partly due to a higher base of comparison. That said, rising consumer and business sentiment in April suggest that economic dynamics remain strong, although soaring inflation could be weighing on household spending. Meanwhile, in May, Fitch Ratings affirmed the country’s investment rating at 'BBB' with a positive outlook, citing a recovering tourism industry and limited exposure to the Russia-Ukraine war. Moreover, the European Commission recently praised the country’s reduction of private and public debt.Croatia Economic Growth
The economy looks set to expand solidly this year, underpinned by a recovering tourism sector, EU recovery funds and unleashed pent-up spending. However, soaring inflation and a weaker-than-expected EU economy—due to the war in Ukraine—will restrain activity. Global supply bottlenecks pose downside risks. FocusEconomics panelists forecast the economy to grow 3.3% in 2022, which is unchanged from last month’s estimate, and 3.6% in 2023.Croatia Economy Data
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Croatia Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 0.67 | 0.0 % | Dec 31 |
Exchange Rate | 6.64 | -0.54 % | Jan 01 |
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Croatia Economic News
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Croatia: Industrial output growth accelerates in May
July 1, 2022
Industrial production increased 3.0% year-on-year in working-day adjusted terms in May (April: +1.6% yoy).
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Croatia: Inflation increases in May
June 16, 2022
Consumer prices increased 1.40% over the previous month in May, slowing down from the 2.70% rise logged in April.
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Croatia: Decline in industrial output softens in April
June 1, 2022
Industrial production decreased 1.4% year-on-year in working-day adjusted terms in April (March: -1.9% yoy).
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Croatia: GDP growth slows, but remains healthy, in the first quarter
May 31, 2022
GDP growth slowed to 7.0% year on year in the first quarter, from 9.7% in the fourth quarter of last year.
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Croatia: Inflation comes in at highest level since our records began
May 18, 2022
Consumer prices rose 2.70% in April over the previous month, picking up from the 2.02% rise logged in March.