IMF: Croatian economy to shrink 0.6% in 2013

The International Monetary Fund (IMF) has said Croatia’s economy will shrink 0.6 per cent in 2013, but that it could go up 1.5 per cent in 2014, according to the IMF’s World Economic Outlook (WEO) released on October 8.

The IMF has lowered its 2013 gross domestic product (GDP) growth forecast for Croatia, having forecast a deceleration of 0.2 per cent in April. The IMF left its 1.5 per cent growth forecast for 2014 unchanged.

The average inflation rate in Croatia in 2013 should amount to three per cent, meaning that the IMF has lowered its projection from an earlier estimate of 3.2 per cent. The inflation forecast for 2014, however, has been raised from 2.3 per cent to 2.5 per cent.

For the full story, please click here.

(Photo: EC Audiovisual Service)