Croatia Economic Outlook
June 7, 2022The pace of year-on-year GDP growth moderated in Q1 but remained healthy nonetheless. A faster expansion in fixed investment was more than offset by softer increases in private and public consumption. Meanwhile, the external sector contributed positively to growth, likely supported by a recovering tourism sector. Economic growth should moderate in the current quarter, partly due to a higher base of comparison. That said, rising consumer and business sentiment in April suggest that economic dynamics remain strong, although soaring inflation could be weighing on household spending. Meanwhile, in May, Fitch Ratings affirmed the country’s investment rating at 'BBB' with a positive outlook, citing a recovering tourism industry and limited exposure to the Russia-Ukraine war. Moreover, the European Commission recently praised the country’s reduction of private and public debt.
Croatia Economic GrowthThe economy looks set to expand solidly this year, underpinned by a recovering tourism sector, EU recovery funds and unleashed pent-up spending. However, soaring inflation and a weaker-than-expected EU economy—due to the war in Ukraine—will restrain activity. Global supply bottlenecks pose downside risks. FocusEconomics panelists forecast the economy to grow 3.3% in 2022, which is unchanged from last month’s estimate, and 3.6% in 2023.
Croatia Economy Data
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|Bond Yield||0.67||0.0 %||Dec 31|
|Exchange Rate||6.64||-0.54 %||Jan 01|
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Croatia Economic News
September 2, 2022
Industrial production increased 2.8% year on year in working-day adjusted terms in July (June: +3.8% yoy).
August 26, 2022
The preliminary estimate reveals that GDP growth improved to 7.7% year on year (yoy) in the second quarter, from 7.0% in the first.
August 18, 2022
Consumer prices rose 0.43% from the previous month in July, slowing down from June's 1.12% rise.
July 29, 2022
Industrial production increased 3.8% year-on-year in working-day adjusted terms in June (May: +3.0% yoy).
July 19, 2022
Consumer prices increased 1.12% in June over the previous month, coming in below May's 1.40% rise.