Prime Minister: Goal Is to Accelerate GDP Growth Above 2.5 Percent

Total Croatia News

Prime Minister Tihomir Orešković is optimistic about Croatia’s economic outlook.

At an event on Monday organised by the Croatian Exporters Association, Prime Minister Tihomir Orešković spoke about his plans and expectations for the Croatian economy this year, reports on May 23, 2016.

The Prime Minister said it was good news that Croatian exports of goods and services had exceed imports, and that this difference was steadily increasing, which was largely a result of entrepreneurs who, through their knowledge and efforts, found their place in the global markets and demonstrated they can compete with the best.

Describing the exports as a factor of stability which improves the financial position of the country, generates growth, strengthens competitiveness, stimulates the introduction of new technologies and promotes innovation, Orešković pointed out that countries with a significant share of exports in GDP find it easier to withstand external shocks.

“Croatia is now entering a period of more rapid growth. All indicators for the first quarter are positive, industrial production, investments and employment levels are growing. We believe that this trend will speed up by the end of the year. The mission of this government is to speed up economic growth to over 2.5 percent, towards 3 percent and more, and to make this growth sustainable. The key role in all of this belongs to the exporters, those who have proven they can compete in the global marketplace”, said Orešković.

He pointed out there were positive developments occurring in pharmaceutical industry, shipbuilding, food, chemical and wood industry, in production of rubber and plastic products and software, as well as in tourism.

The Prime Minister said that exports were one of the five most important economic objectives of his government, noting that his plan was for exports to nominally increase by 30 percent during the government’s term.

He also spoke about measures from the National Reform Programme, “which will directly or indirectly make life easier for entrepreneurs”, such as the reduction of various business fess by 330 million kuna by the end of the year, the restructuring of public companies, establishment of a fund for medium and small businesses worth 500 million euros to facilitate issuing business loans, as well as the reform of the tax system, which is planned for the first quarter of 2017 and which should bring “a new tax policy that will stimulate further growth and increase competitiveness”.


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