Off the wire
• French Senate adopts more pro-business version of labor law bill  • British FTSE 100 rises 2.64 pct on Tuesday  • Ghana armed forces say ready to keep peace during the election  • Roundup: Experts push for low carbon economies in Africa  • 1st LD Writethru: New British PM to be in place by Sept. 9  • Spanish stock market rises 2.48 pct, closes at 7,835 points  • Michelle Obama stresses girls' education in Morocco  • 1st LD: Ethiopia, Bolivia, Sweden elected as non-permanent members of UN Security Council  • U.S. House committee releases final report on Benghazi attack  • China helps diversify sources of investment in Africa: think tank  
You are here: 　 Home

Croatian economy recovering but facing challenges: IMF

Xinhua, June 29, 2016 Adjust font size:

The International Monetary Fund(IMF) said on Tuesday Croatia's economy was recovering but warned challenges remained, including high debts and elevated unemployment.

Croatian economy was gradually recovering from a six-year recession thanks to exports, tourism and private consumption, a press release from the IMF said.

These facts together with better absorption of EU funds were expected to boost economic growth in 2016, it said, adding Croatia's GDP would increase 1.9 percent this year, 2.1 percent in 2017.

However, the IMF said the country faced challenges, such as GDP stood below its pre-crisis level and unemployment did not decline.

Croatia's business environment was still lagging behind most EU countries, it added.

The country should implement structural reforms, including simplifying the tax system, introducing real estate tax and implementing pension reforms, it said. Endit