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Croatia faces continued economic challenges despite modest recovery: EC vice president

Xinhua, February 26, 2016 Adjust font size:

The Croatian economy is facing challenges of high debt, unemployment and banking problems despite its modest recovery, European Commission Vice President for the Euro and Social Dialogue Valdis Dombrovskis said on Thursday.

The top official, who is in Zagreb for a two-day visit, said Croatia had failed to reduce its deficit in 2015 to below 3.5 percent of GDP and that it would be more difficult to achieve the goal of below 3 percent this year.

Sustainable economic growth required comprehensive structural reforms, he said, adding the EU would help Croatia to resolve the problem of macroeconomic imbalances.

Dombrovskis also met with Croatian President Kolinda Grabar-Kitarovic and Parliament Speaker Zeljko Reiner and he is scheduled to meet with Prime Minister Tihomir Oreskovic and several ministers during his visit. Enditem