Republic of Croatia: Staff Report for the 2004 Article IV Consultation and Request for Stand-By Arrangement
August 12, 2004
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This paper examines Croatia’s 2004 Article IV Consultation and Request for Stand-By Arrangement (SBA). Croatia has established a record of solid growth and low inflation since the mid-1990s. Real GDP growth has averaged about 4.5 percent, with inflation in the low single digits. This performance compares well with the European Union-15 (EU-15) and other Central and Eastern European countries (CEECs). Structural reform has also advanced, and the private sector is vibrant. To support their policies for 2004–05, the authorities have requested a new 20-month SBA, which they intend to treat as precautionary.
Subject: Balance of payments, Central banks, Current account deficits, External debt, Fiscal policy, International reserves, Public debt
Keywords: bank liquidity, CR, Current account deficits, Eastern Europe, EU accession, EU candidacy status, Executive Board discussion of the Republic of Croatia, Global, government, International reserves, ISCR, Maastricht deficit ceiling, monetary policy, spending priority, Stand-By Arrangement
Pages:
90
Volume:
2004
DOI:
Issue:
253
Series:
Country Report No. 2004/253
Stock No:
1HRVEA0032004
ISBN:
9781451817379
ISSN:
1934-7685
