Croatian economists downgrade 2012 GDP forecast to minus 1.5%.

By bne IntelliNews July 12, 2012
The chief economists of Croatias six biggest banks have cut their 2012 GDP forecasts by 0.2 percentage points to minus 1.5%, a survey of the Croat banking association HUB showed. In the beginning of the year the economists projected a contraction of between 0.5% and 2.1%, or an average of 1.3%. Now the upper limit of this band has dropped to minus 1% and the lower remained at 2.1%. All GDP components are expected to shrink this year with investments registering the largest drop (-3%). In line with this, the economists 2012 unemployment projection has also slightly deteriorated to 13.9% from earlier 13.1% (the optimistic scenario), while the pessimistic one remained flat at 16.4%. This means the economists now see a 14.6% jobless rate at end-2012, up from earlier 14.4%. The most significant change in the economists mid-year forecasts is in inflation, which is now seen at 3.3% at end-2012, up from earlier 2.5%. The only positive movement in the experts projection was observed at fiscal deficit, which is now seen at 4,7% of GDP, down from previous 4.9%.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Croatian govt to acquire four companies part of 3.Maj shipyard.

The Croatian government decided on Thursday, March 21, to take over the ownership of all four companies part of local shipyard 3.Maj after which the privatisation of the parent company will be ... more

Croatias Dukat to make takeover bid for Slovenias Ljubljanske Mlekarne.

Croatian dairy producer Dukat said it intends to place a takeover bid for the 49.7% stake it does not yet own in Slovenian peer Ljubljanske Mlekarne. Dukats current stake of 50.3% in the ... more

Croatia's construction output down 2.1% y/y in Jan 2013.

Croatia's construction output fell 2.1% on the year in January 2013 after dropping an annual 19.9% a month earlier, the statistics office said, quoting unadjusted data. Working-day adjusted data, ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss