Croatia Country Report - April, 2016

May 25, 2016

This report reviews key macroeconomic data and microeconomic developments for Croatia published between April 1 and April 28, 2016.
The World Bank forecasts GDP growth in Croatia will accelerate to 1.9% this year from 1.6% in 2015 thanks to expected growth in tourism and investments driven by EU funds absorption.
The International Monetary Fund forecasts steady growth of more than 3% for the Southeast Europe region between 2016 and 2021, outstripping most of Western and Central Europe as countries from the region continue on their convergence path.
The report also provides details on economic sentiment indicators, and construction output. It mentions latest developments in structural reforms. The report also reveals the latest investments in tourism sector, and the details on public borrowing.

Key Points:

• Croatia’s general government deficit declined to HRK10.7bn (€1.43bn) or 3.2% of GDP in 2015 from HRK18.1bn or 5.5% of GDP in 2014.

• Croatia's consumer prices fell 1.7% y/y in March, deepening from a 1.4% annual decline the previous month.

• Croatia's registered unemployment rate declined, for the second consecutive month, from 17.8% in February to 17.2% in March.
• The number of tourist arrivals at commercial accommodation in Croatia rose 14% y/y to 350,328 in January-February.

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