Croatia Country Report - November, 2015

Croatia Country Report - November, 2015

  • December 2015 •
  • 38 pages •
  • Report ID: 3307228 •
  • Format: PDF

This report reviews key macroeconomic data and microeconomic developments for Croatia published between November 7 and December 4, 2015.

In the beginning of November, the Croatian central bank confirmed the economy expanded by a real 2.8% y/y in the third quarter of the year, registering the fourth quarter of consecutive growth. This is the strongest performance since the third quarter of 2008.

Croatia's economy is expected to expand 0.9% this year and in 2016, according to a forecast of the Croatian banking association HUB issued in November.

The report also reveals the results of the general elections held on November 8 and the outcome of the negotiations between the main parties and coalitions.

It also shows Croatia's latest decisions regarding the migrants entering its territory and mentions Croatia's ranking in the latest Paying Taxes study by global consultancy PwC and the World Bank Group.

The report provides details on INA's plans regarding its filling stations network business and names the possible air carriers interested in the privatisation process of Croatian flag carrier Croatia Airlines.

Key Points:

o Croatia's consumer prices fell 0.9% y/y in October, slightly deepening from the 0.8% decline in the previous month.The working-day adjusted industrial output rose 6.4% y/y in October, accelerating from a 5.4% annual hike in the previous month.

o The unemployment increased to 17.2% in October from 16.2% in September. The average net monthly wage rose 4.4% in September, accelerating from a 4.2% hike in August.

o January-September trade gap narrowed 1.6% y/y as exports rose at a faster pace than imports.