
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: Inflation declines to lowest level since September in December
January 17, 2023
Inflation dropped to 13.1% in December, following November’s 13.5%.
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Croatia: Industrial output records largest decline in over two years in November
December 29, 2022
Industrial output slid 1.8% year on year in working-day adjusted terms in November, which was a deterioration from October's 0.4% decrease.
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Croatia: Inflation comes in at highest level since our records began
December 16, 2022
Inflation came in at 13.5% in November, which was up from October’s 13.3%.
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Croatia: Industrial activity deteriorates in October
December 2, 2022
Industrial output dropped 0.4% year on year in working-day adjusted terms in October (September: +2.3% yoy).
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Croatia: Industrial activity deteriorates in October
November 30, 2022
Industrial output dropped 0.4% year on year in working-day adjusted terms in October (September: +2.3% yoy).