The World Bank has downgraded its 2016 global growth forecast to 2.4 percent from the 2.9% projected in January, while projecting markedly higher growth rates for Croatia, in line with those of the International Monetary Fund, according to the Bank's Global Economic Prospects report.
This year the Croatian economy is projected to increase 1.9%, half a percentage point more than what the World Bank forecast in January. The forecast for 2015 was increased by 0.6 pp to 1.6%.
In 2017, the Croatian economy is projected to grow by 2%, as against the 1.7% forecast in January, while in 2018, it is projected to grow by 2.4%, which is 0.4 pp more than forecast in January.
The IMF has forecast a 1.9% growth of the Croatian economy this year and 2.1% in 2017.
The World Bank has upgraded its 2016 forecast for emerging and developing markets in Central Europe to 3.4%, from 3.3% in January. This subregion comprises Croatia, Bulgaria, Hungary, Poland and Romania. The forecast for 2017, however, has been downgraded by 0.2 pp to 3.3%, while in 2018 the economy is projected to go up 3.2%, 0.4 pp less than forecast earlier.