18:33 / 29.05.2023.

Author: Nikola Badovinac

GDP growth is an indication of economic resilience, says PM

Economic growth

Economic growth

Foto: Pixabay / Pixabay

According to the latest estimates published by the national bureau of statistics, the economy grew in the first quarter of this year - the ninth quarter in a row - but at a slower rate of 2.8 percent year-on-year. 

All aspects of the economy contributed to the result, especially the export of goods and services. For the government, this is another indicator of the resilience of the economy, and for economic experts, it is the first confirmation of the contribution of Croatia's entry into Schengen area and the Eurozone.

"It is an indication of the resilience of our economy and the effectiveness of the measures implemented by the government. Economic growth in the first quarter of this year gives us cause for optimism. According to our experiences, if the first quarter has experienced this level of growth, and the second quarter is typically buoyed by the tourism season, the third and fourth quarters are certain to be marked by even higher economic growth that we ourselves have forecast," said Prime Minister Andrej Plenković.

Croatia's most important foreign trade partners are EU member states. In 2022, trade with EU member states amounted to about 69 percent of total exports and about 71 percent of total imports.

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