Context: The economy is gradually recovering from a six year recession, mostly on the back of strong exports, tourism activity, and private consumption. Public and external debt levels and financing needs remain high. Real GDP is still about 11 percent lower than in 2008, unemployment is high at about 16 percent, and merchandise exports are low, although improving following EU accession. A new coalition government was formed in January with a narrow majority and has passed a tight budget and announced a wide-ranging National Reform Program (NRP) that will require decisive implementation to achieve Croatia's economic potential. Key policy recommendations: Economic priorities in the period ahead are to: (i) reduce vulnerabilities through fiscal consolidation; and (ii) boost growth and employment creating by accelerating structural reforms and utilization of EU structural and investment funds.
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|Size: ||3.9 MB|
|Publisher: ||INTERNATIONAL MONETARY FUND|
|Date published: || 2016|
|ISBN: ||9781498321716 (DRM-PDF)|
|Read Aloud: ||not allowed|