IMF calls for more improvement of Croatia's business climate

IMF calls for more improvement of Croatia's business climate

IMF calls for more improvement of Croatia's business climate Izvor: REUTERS/Yuri Gripas

The International Monetary Fund (IMF) said that 2018 marked Croatia's fourth year in a row of economic growth and fiscal consolidation, but also called for further improvements to the country's business climate and a more rational management of public companies, as well as bankruptcy legislation.

"The economic expansion continues, driven primarily by private consumption and exports of goods and services," the IMF said in a press release published on Wednesday.

The report, signed by IMF's Executive Directors, welcomes "Croatia’s continued economic recovery, which has helped further reduce indebtedness and build external buffers."

"Over the next few years, growth is expected to moderate, as the economy moves closer to its potential. The current account is projected to decline but remain in surplus, while external indebtedness is expected to continue to decline," the report said.

After a 2.7 percent growth in 2018, Croatia's GDP is likely to grow by 2.6 percent in 2019, according to IMF estimates.

"Fiscal performance has been strong, but the materialisation of contingent liabilities from government guarantees is likely to reduce the overall surplus. Low public and private investment, and continued emigration weigh on medium-term growth prospects. Downside risks in the near-term stem from possible changes in regional or global economic and financial conditions, and the further realization of contingent liabilities," IMF said.

The IMF highlighted "the need to improve the business environment by further reducing administrative and tax burdens," and said it welcomed "recent initiatives to reduce parafiscal fees."

The IMF directors advise "rationalising the state-owned enterprise sector, divesting under-utilized state assets, and improving the efficiency of legislative and judicial processes."

Follow N1 via mobile apps for Android | iPhone/iPad | Windows| and social media on Twitter | Facebook.

POVEZANE VIJESTI

Comments (0)

Comment sent successfully.

Comment sending failed.

Invalid CAPTCHA

* All fields are required

MOST POPULAR

NAJČITANIJE

READ MORE

NEWS

NEWS

N1 News names two European TV news heawyweights to its editorial board 10:48 h

10:48 h  |  NEWS

NEWS

NEWS

Plenkovic, Macron discuss bilateral relations, EU enlargement 10:46 h

10:46 h  |  NEWS

NEWS

NEWS

After winning the election, Boris Johnsdon is facing a US-China balancing act 10:17 h

10:17 h  |  NEWS

NEWS

NEWS

UK: Boris Johnson’s Conservatives on course for huge victory, exit poll projects 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Former HNB governor Zeljko Rohatinski dies 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Jo Johnson for N1: Corbyn is the biggest threat to UK 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Croatians can vote in presidential election at home and in 47 other countries 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Plenkovic talks Croatian EU presidency with European Council President Michel 12.12.2019.

12.12.2019.  |  NEWS

PROČITAJTE JOŠ

NEWS

NEWS

N1 News names two European TV news heawyweights to its editorial board 10:48 h

10:48 h  |  NEWS

NEWS

NEWS

Plenkovic, Macron discuss bilateral relations, EU enlargement 10:46 h

10:46 h  |  NEWS

NEWS

NEWS

After winning the election, Boris Johnsdon is facing a US-China balancing act 10:17 h

10:17 h  |  NEWS

NEWS

NEWS

UK: Boris Johnson’s Conservatives on course for huge victory, exit poll projects 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Former HNB governor Zeljko Rohatinski dies 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Jo Johnson for N1: Corbyn is the biggest threat to UK 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Croatians can vote in presidential election at home and in 47 other countries 12.12.2019.

12.12.2019.  |  NEWS

NEWS

NEWS

Plenkovic talks Croatian EU presidency with European Council President Michel 12.12.2019.

12.12.2019.  |  NEWS

loader