“Lower GDP Growth Will Not Affect Budget”

Total Croatia News

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ZAGREB, March 1, 2018 – Prime Minister Andrej Plenković said on Thursday that a lower-than-expected economic growth in 2017 did not affect the state budget and that budget revenues were being collected well, and underscored the latest European Commission report about Croatia’s improving economic sentiment in February as encouragement.

Croatia’s economy grew in Q4 2017 by 2% from the same period of 2016, which is its slowest growth rate since Q2 2015. According to seasonally adjusted data, Croatia’s GDP in Q4 grew 0.1% from the previous quarter, while compared to Q4 2016 it grew 2.2%, the national statistical office (DZS) reported on Wednesday.

In 2017, the national economy grew by 2.8%, less than in 2016, when the growth rate was 3.2%.

Economic sentiment improved significantly in Croatia in February reaching a record high on the wings of optimism in the manufacturing sector and among consumers, according a report released by the European Commission on Tuesday.

“What is encouraging is that Croatia’s economic sentiment is at its highest since the EC started monitoring this indicator in Croatia,” Plenković told a cabinet meeting in Zagreb.


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