19:32 / 26.10.2021.

Author: Domagoj Ferenčić

Marić says GDP will be higher than expected

Finance Minister Zdravko Marić

Finance Minister Zdravko Marić

Foto: Srecko Niketic / PIXSELL

Croatia is looking to get its economy back on track after the corona-crisis, brought on by the restrictive measures imposed by governments around the world, hammered most national economies over the past 20 months.

Deputy Prime Minister and Finance Minister Zdravko Marić announced today that the 2022 budget and a revision of this year's budget are being prepared for Thursday's cabinet session. He noted the GDP growth for this year is above initial projections: "We expect economic growth above initial forecasts. I spoke about this a few days ago, we're finalizing macro-economic projections and based on the latest data we are moving above 8%. I think this is truly a very good result and that we can all be happy, because if that is the case, and by all accounts we're moving in that direction, then Croatia will achieve pre-recession GDP levels in less than two years."

The Finance Minister was attending the 6th Lider Invest Project forum, organized by the Lider business weekly in Zagreb on Tuesday. The forum’s participants concluded that the future of investment in Croatia is positive. Minister Marić noted that government will also play a key role in investment in the future: "Right now we have a very potent new moment in Croatia, and that is the National Recovery and Resilience Program that puts an emphasis on what we could call transformation, meaning structural reforms in the public and private sectors supported by the same public and private investments."

However, Lider editor-in-chief Miodrag Šajatović noted that current circumstances have prompted many businesses to hold off on investment, ultimately to their own detriment: "These are difficult times, as inflation and everything else that's happening has prompted investors to question whether to proceed with or postpone planned investments. What we at Lider have been monitoring over the past decade, especially the last six years, indicates that you can always find a hundred reasons to put off an investment, but that those who do invest reap long-term benefits."

Source: HRT

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