18 January 2021
  • 12:56 Advent, Zagreb and 2020
  • 09:51 The Adriatic Journal 2021 – Digital world anchors in reality
  • 09:28 Looking back on 2020
  • 09:49 China entering the Western Balkans: the long-term perspective
  • 10:36 Teleworking is an opportunity for Slovenia’s companies in foreign markets

Due to an improved situation in the budget and economic recovery, Standard & Poor’s (S&P) raised its sovereign credit ratings for Croatia to ‘BBB-/A-3’ from ‘BB+/B’. This puts the country’s rating back into the investment category after six years. In a statement, S&P said that “the upgrade reflects Croatia’s improving fiscal metrics, underpinned by its recent economic recovery thanks to tax-rich domestic demand, but also fiscal consolidation measures implemented by the authorities. Risks to GDP performance, public finance, and financial stability emanating from the bankruptcy of Croatia’s largest food retailer Agrokor have abated. We also view the likelihood of fiscal slippages–from the payment of state guarantees against Uljanik shipyard’s debt liabilities–as reduced.” While torusim remains the biggest contributor to the GDP at almost 20%, other sectors such as manufacturing and  transportation are also significant contributors. After 2.6% growth in 2016,  S&P expects Croatia’s economy to grow to around 2.5% on average in 2019-2022.

Adriatic Journal

RELATED ARTICLES

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close