German-Croatian Chamber of Industry optimistic about Croatia

Members of the German-Croatian Chamber of Industry and Trade are more optimistic than last year about the prospects of the Croatian economy in 2016, according to the results of a survey presented in Zagreb on Tuesday.

Of 380 members in Croatia, 80 took part in the survey, and the results show that 38 percent of them consider the prospects of the Croatian economy to be better than last year, when 17 percent thought so.

Fifty-five percent said that the situation would remain unchanged (compared with 66 percent last year), while eight percent said they expected a deterioration, as against 16 percent in last year's survey.

On the list of 20 Central and Eastern European countries, Croatia ranked eighth in terms of investment attractiveness.

The survey shows that the current economic situation in Croatia is still pretty bad: 59 percent of those polled described it as bad, compared with 85 percent last year; 40 percent saw the present situation as satisfactory, which is better than last year when 14 percent thought so, while one percent, the same as last year, said that the present situation was good.

More optimism can be seen in Croatia than in other countries in Central and Eastern Europe, which is good, the presentation said.

Most of the companies polled, 59 percent, expected a higher turnover this year, 31 percent said it would remain unchanged and 10 percent said it would be worse than last year. About 44 percent said they expected higher investments, 43 percent expected their investments to remain at 2015 levels, and about 14 percent predicted their decrease.

EU membership, educated and skilled labour, productivity, worker commitment and infrastructure were cited as Croatia's advantages, while the tax system, public administration, unpredictable economic policy and legal insecurity were given as disadvantages.

Last update: Tue, 19/04/2016 - 16:26

More from Croatia

Croatia's new car sales up 21% in Jan-Nov

A total of 40,631 new vehicles were sold in Croatia in the period from January to the end of November 2016, which...

PBZ puts Croatia's growth at 2.7% in 2016

Privredna Banka Zagreb (PBZ) has revised upward its forecast of Croatia's economic growth for 2016 from 2.3% to 2.7...

NME ranks INmusic among most popular world festivals

One of the most prestigious world music magazines, the British NME, has ranked the INmusic Festival among the 12...

8.7% of Croats can't afford a drink/meal with friends/family once a month

8.7% of Croatians aged 16 or over cannot afford to get together with their friends or family for a drink or a meal...

Croatia ranks 49th in ease of paying taxes

Croatia ranks 49th on the list of 189 countries covered by an in-depth analysis of tax systems conducted by PwC and...