Republic of Croatia: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Croatia
June 12, 2009
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Croatia’s annual GDP growth accelerated to 4–5 percent, per capita incomes advanced further toward the EU average, and unemployment declined to the lowest levels since Croatia’s independence. The staff report for Croatia’s 2009 Article IV Consultation is also described. Rapid credit growth led to a significant debt build-up and prevalent foreign currency borrowing aggravated balance sheet vulnerabilities, and booming domestic demand led to surging trade deficits, moderated only partially by strong tourism earnings.
Subject: Balance of payments, Banking, Budget planning and preparation, Currencies, Current account deficits, External debt, Money, Public debt, Public financial management (PFM)
Keywords: Budget planning and preparation, CNB website, company registration procedure, CR, Currencies, Current account deficits, debt, deficit, Eastern Europe, EU accession agenda, fiscal policy response, Global, government, inflation expectation, ISCR
Pages:
66
Volume:
2009
DOI:
Issue:
185
Series:
Country Report No. 2009/185
Stock No:
1HRVEA2009001
ISBN:
9781451817492
ISSN:
1934-7685
