18:44 / 27.04.2022.

Author: Nikola Badovinac

Inflation rate predicted at 7.8%

Prime Minister Andrej Plenković

Prime Minister Andrej Plenković

Foto: Matija Habljak / Pixsell

The government forecasts a 3% rise in GDP in 2022 and expects the budget deficit to narrow to 2.8% of GDP, while inflation is expected at 7.8%, Prime Minister Andrej Plenković said at Wednesday's cabinet meeting.

Finance Minister Zdravko Marić presented the 2023-2025 Convergence Program, the document that the government presents every year within the framework of the European Semester.

"The main driver of economic growth over the next few years will be investments in both the public and private sectors; as well as the export of goods and services," said Marić.

The Convergence Program defines the framework and objectives of the government's economic policy, macroeconomic and fiscal trends as well as key structural reforms in the medium term.

Marić estimates an inflation rate of 7.8% this year, before decreasing significantly in the years to come (3.7% in 2023 and 2.5% in 2024).

The government is also adopted the National Reform Program today which, according to Plenković, is based on the National Recovery and Resilience Plan and contains 95 measures in six areas.

"Economy, pubic administration, judiciary and state assets; education, science and research; labour market and social welfare; health and building reconstruction. All of these activities are placed in the broader context of climate change, energy transition and sustainability, prevention and combating corruption, strengthening administrative capacity, implementation and programming of European funds, and modernization of the education system," said the prime minister.

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