Croatia's GDP growth seen at up to 5.8% in '22, 1.0% in '23 – c-bank

“Croatia will still have a very good year [in 2022]. We expect growth of 5.5% to likely 5.8% this year, which is following growth of 10.2% last year,” central bank governor Boris Vujcic said on the sidelines of The 2022 World Bank Group/International Monetary Fund Annual Meetings on Sunday in Washington, an as seen in a video file published by state TV brodcaster HRT.

“However, next year we expects that this slowdown that we see [abroad] will entirely reflect into a much lower growth rate as we expect next year the local economy to grow by just 1%,” Vujcic added.

The slowdown on global level has been visible for some time, in Europe as well, and in Croatia it is seen very recently, practicaly from the data for September afterwards, he explained.

Croatia's economic growth is expected to be around 6% this year, much higher than originally planned by the government and far above the initial forecasts of other institutions, Croatian prime minister Andrej Plenkovic said on Thursday.

The International Monetary Fund (IMF) said earlier last week that it expects Croatia's economy to expand by 5.9% this year, improving its 2.7% growth forecast made in April, while the European Bank for Reconstruction and Development (EBRD) at the end of September said Croatia's economy is expected to expand by 6.5% this year, sharply lifting its forecast for 3.0% growth made in May.