Central bank governor says GDP growing on healthy foundations

National Bank (HNB) governor Boris Vujcic has said Croatia should not be happy with a 2% GDP growth, as it is a relatively low growth rate compared to other eastern European countries, adding however that it is a good thing that the growth is based on healthy foundations and underscoring the central bank is consistent in protecting the exchange rate of the national currency.

GDP is growing on healthy foundations because exports are growing and not only consumption as it has been the case so far, Vujcic told Croatian Television on Sunday evening. It is also good that together with the public debt, all other debts are decreasing as well, Vujcic said.

He voiced optimism, underlining however, that reforms were necessary in all sectors -- the public administration, judiciary, the health sector, education.

He underscored that the deficit, according to the central bank's projections, would drop below 3%.

Vujcic also stressed that more efforts needed to be invested to increase GDP in order to improve the country's credit rating.

Last update: Mon, 25/04/2016 - 10:55

More from Croatia

Stier: Cyber-attack may have come from east, unrelated to PM's Ukraine visit

Foreign Minister Davor Ivo Stier said on Saturday that no strategic piece of information was compromised in a cyber-...

Subspace hostel with space pods opens in Zagreb

As of December 1, Zagreb has a new tourist attraction, the futuristic Subspace hostel, the first in the European...

Remaining Kiowa Warrior helicopters for Croatian army delivered

Eleven OH-58D Kiowa Warrior military helicopters were delivered to the Croatian Air Force base in Zemunik on...

Croatia needs change and SDP must start it, says opposition leader

Newly elected Social Democratic Party (SDP) president Davor Bernardic said in Zagreb on Saturday that Croatia needed...

Minister says buying controlling interest in INA worth the challenge

State property Minister Goran Maric said in an interview with the Jutarnji List daily on Saturday that the INA oil...