The new issue of SEE-6 Economic Outlook (Vol. 9, No. 1, July 2023) presents a text on recent performance of the Croatian economy as well as the short and medium-term outlook of economic growth for 2024-2026, authored by Nevenka Čučković, PhD from IRMO.
Croatian economy recorded a solid 6.3% rate of GDP growth in 2022 notwithstanding all the negative macroeconomic consequences caused by the implications of the war in Ukraine. The growth continued also in the first quarter of 2023 at higher rate than initially expected despite the general slowdown of the EU and world economy. The Government, as well as most of the analysts and international organizations, thus revised their 2023 growth projections upwards, which are now ranging from 1.6 to 2.4%. The growth projections for the medium term 2024-2026 are also slightly stronger when it comes to forecasts of international organizations and range from 2.3-3.3%. Such a positive outlook is based on expectations that the Croatian economy will remain resilient to external shocks due to decreasing risks of high-energy prices, achieved important improvements in fiscal and external positions, as well as expected benefits of Croatia joining the Eurozone and Schengen.
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:
