Republic of Croatia: 2023 Article IV Consultation-Press Release; Staff Report; and Staff Statement

June 29, 2023

Preview Citation

Format: Chicago

Republic of Croatia: 2023 Article IV Consultation-Press Release; Staff Report; and Staff Statement, (USA: International Monetary Fund, 2023) accessed December 21, 2024

Summary

On January 1, 2023, Croatia became the 20th member of the eurozone. The country posted another strong growth year in 2022, among the highest in the eurozone. But the momentum started to slow in H2, while inflation rose to a multi-decade high, reflecting indirect impacts from Russia’s war in Ukraine. Staff expects growth to moderate to 2.4 percent in 2023 and recover to its potential over the medium term. Inflation is projected to average 7½ percent in 2023 and gradually fall towards the 2 percent target. The outlook is subject to considerable uncertainty. Risks to growth are broadly balanced and risks to inflation are tilted to the upside.

Subject: Fiscal policy, Fiscal stance, Income, Inflation, International organization, Labor, Labor markets, Monetary policy, National accounts, Prices, Public debt

Keywords: Euro adoption, Fiscal stance, Further labor market reform, Global, Headline inflation, Income, Inflation, Inflation development, Labor markets, Money market rate

Publication Details

Pages:

78
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/233
Stock No:

1HRVEA2023002
ISBN:

9798400246760
ISSN:

1934-7685

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