Croatia Economic Outlook
October 5, 2021Following Q2’s rebound, early data suggests that GDP continued to expand at a healthy, albeit weaker, rate in Q3. Solid growth in retail sales in July–August, coupled with a markedly lower unemployment rate in the same period, hints at robust household consumption. On top of this, soaring numbers of tourist arrivals in July, which came close to pre-pandemic levels, will have provided an additional boost to the economy. Meanwhile, on 28 September, the country received EUR 818 million as the first tranche of its share of the EU recovery fund, boding well for activity ahead. In other news, on 10 September the IMF concluded its Article IV consultation, highlighting the country’s economic resilience during the pandemic and bright growth prospects. However, the Fund stressed risks stemming from the pandemic’s uncertain trajectory.
Croatia Economic GrowthThe economy is seen rebounding solidly this year, in line with the reopening of economies globally. Next year, GDP will continue to expand at a healthy rate, supported by firming demand and incoming EU funds. That said, Covid-19 flare-ups, in light of the importance of the country’s tourism industry, remain a key downside risk. FocusEconomics panelists forecast the economy to grow 7.1% in 2021 and 4.6% in 2022, which is up 0.1 percentage points from last month’s estimate.
Croatia Economy Data
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|Bond Yield||0.67||0.0 %||Dec 31|
|Exchange Rate||6.64||-0.54 %||Jan 01|
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Croatia Economic News
September 30, 2021
Industrial production expanded at a sharper rate of 5.2% in annual terms in August, from 3.9% in July.
September 17, 2021
Consumer prices rose 0.19% over the previous month in August, unchanged from July's reading.
September 1, 2021
Industrial production growth cooled to 3.9% in annual terms in July, following June’s 8.2% expansion.
August 27, 2021
GDP bounced back solidly in the second quarter, expanding 16.1% in annual terms, contrasting Q1’s 0.7% slide.
August 16, 2021
Consumer prices increased 0.19% in July over the previous month, after flatlining in June.