Croatia's c-bank expects GDP growth to intensify further in Q3

Croatia's c-bank expects GDP growth to intensify further in Q3 Boris15/Shutterstock.com

ZAGREB (Croatia), September 18 (SeeNews) - Croatia's central bank, HNB, has said it expects the country's economic growth will accelerate further in the third quarter of 2017 given the available data for July.

The GDP estimates show that the real economic growth accelerated at the beginning of the third quarter, with retail sales having increased significantly, the HNB said in its monthly bulletin issued last week.

Croatia's annual gross domestic product (GDP) growth quickened to 2.8% in the second quarter from 2.5% in the prior quarter, the country's statistical office said earlier this month.

Consumer confidence continued to recover in July and August after a strong fall in April prompted by the financial woes of ailing food-to-retail concern Agrokor, the central bank noted.

The growth in employment continued in July and the jobless rate fell to 12.1% at the end of the month from 12.3% at the end of the first half of 2017, the HNB said.

The central bank continued to implement its expansive monetary policy, and foreign exchange interventions have mitigated appreciation pressures on the kuna currency, the central bank added.

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