Republic of Croatia: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; Staff Statement; and Statement by the Executive Director for the Republic of Croatia
June 30, 2010
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Croatia’s economy is also saddled with more pervasive rigidities and higher government involvement than many of its transition peers. The Croatian National Bank (CNB) pursued proactive policies, which helped ensure financial sector stability. A stable nominal exchange rate provided an anchor for inflation expectations and financial stability, but also contributed to the accumulation of vulnerabilities. Croatia’s fiscal policy did not take sufficient advantage of the boom years to create adequate space for demand management. Economic recovery is expected to be gradual, with positive growth resuming in the second half of 2010.
Subject: Banking, Economic sectors, Expenditure, External debt, Financial institutions, Loans, Public debt, Public sector
Keywords: baseline scenario, CR, Europe, financial crisis, flash GDP, flash GDP estimate, Global, government, ISCR, Loans, profit tax, Public sector, staff appraisal, tax, tax levy
Pages:
59
Volume:
2010
DOI:
Issue:
179
Series:
Country Report No. 2010/179
Stock No:
1HRVEA2010001
ISBN:
9781455207749
ISSN:
1934-7685
