18 July 2019
  • 10:50 Zagreb is always a good idea
  • 09:43 June Hot topics: Adria Airways in trouble; BiH bans cars older than 10 years; Serbia gets its first 5G base; Lower roaming costs in WB countries
  • 09:41 Top events in July
  • 11:46 Abanka sale completes privatisation of Slovenia’s largest banks
  • 09:44 MAY HOT TOPICS: EC delivers its latest report on progress in Balkans; Merkel supports Croatia’s bid to join Euro and Schengen; Serbia and Bosnia threaten retaliation against Kosovo tariffs; EU elections deliver (almost) expected results in Slovenia and Croatia; Uljanik starts bankruptcy proceedings

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