Republic of Croatia: 2024 Article IV Consultation-Press Release; and Staff Report

July 29, 2024

Preview Citation

Format: Chicago

Republic of Croatia: 2024 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2024) accessed September 16, 2024

Summary

Croatia is the newest euro area (EA) member. Following a very strong recovery in 2021–22, growth moderated to 3.1 percent in 2023, still among the highest in the EA. Inflation has decelerated considerably since early 2023 but remains above the EA average, while the labor market remains tight. Growth is expected to stay robust in 2024–25, led by strengthening household real incomes and investment supported by EU funds. Inflation is expected to gradually approach 2 percent in late 2025. Risks to the outlook are broadly balanced. Subdued productivity and labor shortages are the main obstacles to potential growth.

Subject: Financial institutions, Fiscal policy, Fiscal stance, Inflation, Labor, Labor markets, Loans, Prices

Keywords: Authorities project, EU integration process, Europe, Fiscal stance, FX reserve management monetary policy instrument, Global, Green transition, Inflation, Inflation expectation, Labor markets, Loans

Publication Details

Pages:

74
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/246
Stock No:

1HRVEA2024001
ISBN:

9798400285332
ISSN:

1934-7685

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