IMF lowers estimate for Croatia's 2011 GDP growth to 0.8% y/y.

By bne IntelliNews September 21, 2011
Croatias economy is to expand by 0.8% in 2011, the International Monetary Fund (IMF) said in its September 2011 World Economic Outlook, revising downward its projection from an earlier expected growth of 1.3% in its April edition. The countrys economic growth will further speed up to 1.8% y/y in 2012. The inflation rate will accelerate to 3.2% y/y in 2011, but will ease to 2.4% y/y in 2012. The IMF expects the current account deficit to expand to 1.8% of GDP in 2011 and 2.7% of GDP in 2012. The labour market will remain tense as the unemployment rate is to stay high at 12.7% in 2011 and slightly lower to 12.2% in 2012.

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