Croatian banks' chief economists lift 2023 GDP growth forecast to 2.5%

The GDP growth forecasts for this year range from 2.4% to 2.6% as investments and exports of goods and services will be the main growth drivers, the association said in a press release, citing the projections of chief economists at Zagrebacka Banka, Privredna Banka Zagreb, Erste&Steriermaerskische Bank and Raiffeisenbank Austria Zagreb.

The chief economists are a bit less optimistic than the central bank, which expects a 2.9% economic growth this year, the association said.

For next year, the median forecast for Croatia's real economic growth is 2.7%, with projections ranging from 2.5% to 6.5%.

The chief economists at the four Croatian banks expect the average annual inflation to slow down to 7.0% this year and 3.5% next year.