Oreskovic expects excellent data on GDP

Caretaker Prime Minister Tihomir Oreskovic said at the start of a government session on Wednesday that he was confident data on GDP in the second quarter of this year would be excellent and that rating agencies could improve the country's credit rating by the end of the year.

Later in the day, the national statistical office will publish its preliminary estimate of GDP in the second quarter, and eight economic analysts interviewed by HINA have predicted that the economy has grown by 2.3% from the same period of last year. Their estimates range from 2.1% to 2.5%.

Oreskovic said that all macroeconomic indicators for Q2 were excellent, notably personal consumption.

He said that he expected the budget deficit to be below 3% of GDP, adding that the debt and unemployment were falling and that exports were growing.

"We are controlling things, and data for the money absorbed from EU funds are positive too," he said.

According to figures published recently by the Finance Ministry, this year Croatia has withdrawn around five billion kuna (EUR 662 million) from EU funds, three billion kuna more than it has paid into the EU budget.

Last update: Wed, 31/08/2016 - 11:51


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