Off the wire
• Hungarian court orders arrests of 4 in relation to dead migrants' truck  • Spotlight: Dead migrants in abandoned lorry die from lack of oxygen: Austrian police  • Spanish tenor Placido Domingo makes Macao debut  • Roundup: Turkey's new interim gov't formed amid partisanship criticisms  • Nairobi bourse trading drops to four-year low  • Kenyan gov't extends amnesty to radical youth  • Spotlight: Germany, dreamland for Syrian asylum seekers  • Exiled Yemeni president arrives in Khartoum for talks with Sudan counterpart  • China's economy operating within appropriate range: Premier  • 2nd LD-Writethru-China Focus: China adopts local government debt ceiling  
You are here: 　 Home

Roundup: Croatian economy growth comes from private sector

Xinhua, August 30, 2015 Adjust font size:

The private sector in Croatia made the biggest contribution to the 1.2 percent GDP growth in the second quarter of 2015, Croatian economists said.

Economic analyst and consultant in T&MC Group, Damir Novotny, said on Saturday that although figures were positive, the growth of industrial production and enlarged exports of food, wood, steel and pharmaceutical came as results of successful private sector.

Ivan Lovrincevic, an economic analyst at Zagreb Economic Institute, said that retail and tourism were the main contributors for the growth.

The positive effects from successful tourism season would last to next quarter, he said.

Croatian Employer's Association General Director Davor Majetic said earlier that the growth came from restructuring of private sector, which adapted to new situation and focus on exports.

He called on urgent and serious work on fiscal consolidation, public debt reduction and structural reforms.

The Croatian National Bureau of Statistics (DZS) on Friday released its latest estimate, saying the GDP grew by 1.2 percent in the second quarter this year.

This was the third consecutive quarter that the country's GDP increased and 2015 will likely be the first year with economy growth after a six-year recession. Endit