The new issue of SEE-6 Economic Outlook (Vol. 8, No. 2, December 2022) brings an overview of developments in the Croatian economy in 2022 as well as medium-term projections of economic growth for 2023-2025. The author of this section of the publication is Nevenka Čučković, PhD from IRMO.
The pessimistic spring forecasts that projected modest economic growth in 2022 due to the negative impacts of the war in Ukraine did not materialise, despite the moderation of economic growth in Croatia that occurred since the summer. On the contrary, the Croatian economy has demonstrated a solid level of resilience to the external shocks caused by the enormous rise of energy and food prices on the world market resulting in high inflation rates. Therefore, most of the latest domestic and international 2022 growth projections revised significantly upwards. The outlook for the continuance of economic growth in 2023-25 is also not pessimistic. Despite the anticipation of more modest growth rates than previously expected, especially for 2023, the Croatian government and international organisations do not envisage that economy would plunge into a recession. Stronger economic recovery from the implications of the war in Ukraine is expected in 2024-2025. However, it tightly depends on success in restraining inflation as well as on ending the conflict.
SEE-6 Economic Outlook is a biannual publication in English published by members of the SEEA association since 2015. The publication provides an overview of economic trends as well as short and medium-term forecasts for six countries in Southeast Europe. It is published by the Institute of Economic Sciences, Belgrade in cooperation with partner institutions from Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia and Slovenia, among which is IRMO, Zagreb.
The text of the publication is available in open access at the following link: https://www.library.ien.bg.ac.rs/index.php/see6