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Croatian national bank governor says structural reforms needed to boost growth

Xinhua, May 6, 2016 Adjust font size:

If the Croatian economy is to grow, it will do so based on the implementation of structural reforms to improve the business climate and expand exports, Croatian National Bank (HNB) Governor Boris Vujcic said on Thursday.

The government expected a growth of 2.0 percent in 2016 for its economy which grew 1.6 percent in 2015 after six consecutive years of recession.

The structure of Croatia's economy remains unfavourable despite some improvement, Vujcic said at a conference held in Croatian northern Adriatic resort of Opatija, adding it relied largely on tourism and that goods for export were still insufficient.

The important thing was to remove the obstacles for doing business in Croatia, he added.

Vujcic predicted economic growth would continue in 2016, reaching 1.8 percent, the same as the European Commission's predictions. Endit