Republic of Croatia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Croatia

June 28, 2016

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Republic of Croatia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Croatia, (USA: International Monetary Fund, 2016) accessed November 28, 2024

Summary

This paper discusses the economic developments, outlook, risk, and policies of Croatia. This East European country has begun since the last quarter of 2014 to gradually recover from a six-year recession. In 2015 real GDP grew by 1.6 percent, driven by strong exports and tourism, a revival of private consumption, and higher public investment. Consumer prices have largely been declining over the past two years, mainly due to lower energy and food prices. Unemployment declined only slightly since 2014 and remains very high. However, absent concrete measures to underpin some of the planned reforms, slightly higher deficit in 2016 and a slower pace of consolidation over the medium term are projected.

Subject: Banking, Economic forecasting, External debt, Financial institutions, Fiscal policy, Loans, National accounts, Public debt

Keywords: Authorities' NRP, CR, Croatian authorities, Europe, Global, Government, Government deposit, Government share, IMF staff estimate, ISCR, Loans

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/187
Stock No:

1HRVEA2016001
ISBN:

9781498321150
ISSN:

1934-7685

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