Businesses expect higher economic growth in 2016

Croatian business people hope for higher economic growth this year, a survey conducted by the Privredni Vjesnik business newspaper shows.

The annual survey, described as "a barometer of the state of the national economy", was presented in Zagreb this past week. It was carried out in November and December 2015 among 433 businesses that account for 14% of the net profit of the Croatian economy and employ 47,000 people.

On a scale of one to five, their average rating for the performance of the Croatian economy in 2015 was 2.4, as against 2.16 in 2014.

As many as 61% of those polled believe that the growth rate will be slightly higher this year than last year, while 31.7% of the respondents expect the same growth rate.

Nearly every second respondent hopes that conditions for investment and doing business will be the same as last year, 44.6% believe in a slight improvement, and 1.5% fear a deterioration.

A third of businesses, or 34.4%, announced higher investments in upgrading their capacity and 37% said their investments in the modernisation of their capacity would remain unchanged.

The newspaper declared Damir Novotny the best economic analyst in 2015.

Novotny said that the Croatian economy had overcome the recession thanks to the private and not public sector and that entrepreneurs should now be ensured better conditions for doing business. "It is high time that the government stopped being autistic and stopped thinking only about the public sector," he said.

Last update: Sun, 07/02/2016 - 19:21
Author: 

More from Business

Financial leaders in Davos optimistic about US, but see trade risk

The US economy will likely profit from the planned policies of its new president, as long as Donald Trump does not...

Facebook to build data centre in Denmark

The Danish city of Odense and social media giant Facebook announced on Thursday the city was to host a new European...

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...