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Croatia economy to rise 5.2% in 2021, 6.6% in 2022

Christian Fernsby |
Economic activity is expected to pick up at a rate of 6.6% in 2022.

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Topics: CROATIA   

The Convergence Programme is a document that is adopted on a regular basis in dialogue with the European Union's institutions as part of the European semester.

This year's document also deals with macroeconomic, fiscal and other economic effects of the draft National Recovery and Resilience Plan (NPOO), which was forwarded today to the European Commission for final fine-tuning.

Addressing the meeting, Finance Minister Zdravko Marić said that the effects of the NPOO raised the projected growth rate by 0.3 percentage points. Furthermore, growth of 6.6% and 4.1% is forecast for 2022 and 2023 respectively.

The finance minister said that these rates have 1.5 percentage points of the effects made by the National Recovery and Resilience Plan.

In 2024 the economy is expected to rise at a rate of 3.4%. Marić pointed out growing commodity and services exports as a positive contribution to the growth. Domestic consumption and investments will also give tailwinds to the growth.

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