Croatia GDP to grow by 1.6% y/y in 2011 - UN.

By bne IntelliNews January 19, 2011
The United Nations forecast an economic growth of 1.6% y/y in 2011 and 2.7% y/y in 2012, the organisation said in its annual report World Economic Situation and Prospects 2011. South-eastern Europe would also report economic growths of 2.5% and 3.4% y/y in 2011 and 2012 respectively. The report stressed that the economies in transition in South-eastern Europe, except for Croatia, returned to positive territory in 2010 after a prolonged period of contraction. The main driver behind the economic recovery was export growth. Consumption and investments remained subdued. The UN baseline forecast for the growth of world gross product (WGP) is 3.1% for 2011 and 3.5% for 2012, which is below the 3.6% estimated for 2010, the report said.

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