HGK

HGK: 16 Croatian companies to exhibit at IDEX defence exhibition

Sixteen Croatian companies will exhibit their products at the 13th IDEX 2017 defence exhibition in Abu Dhabi, to be held on February 19-23.

Croatia's gross external debt in Oct 2016 down 10% y-o-y

Croatia's gross foreign debt in October 2016 stood at EUR 42.6 billion, or EUR 154.5 million more than in September 2016, however, on the year it was reduced by 9.9% or by EUR 4.7 billion, the Croatian Chamber of Commerce (HGK) reported, projecting that this debt is set to fall below 100% of GDP by the end of 2016, after the gross external debt-to-GDP ratio being above 100% for seven years.

Croatia not ready to introduce dual education

In Austria and Germany where the dual education system has been implemented for years, the youth unemployment rate is 5% to 10%, Burilovic said, underscoring that the application of such a system would significantly contribute to reducing overall unemployment.

HGK says holiday season spending estimated at HRK 12 bn

The Croatian Chamber of Commerce (HGK) estimates that in December this year Croatians will spend slightly more than HRK 12 billion, half a billion more than in December 2015.

Croatia's gross foreign debt falls to EUR 43.4 bn in June

Croatia's total gross foreign debt at the end of June this year amounted to 43.4 billion euro, which is 5.4 billion euro or 11% less than at the end of June last year, the Croatian National Bank (HNB) reported on Tuesday.

Builders require 3,000 foreign workers, says chamber

The Croatian Chamber of Commerce (HGK) estimates that builders in the country need 3,000 foreign workers to compensate for the drain of qualified workers from Croatia, the HGK said on Thursday.

Croatian airports report record-high passenger turnover

In July this year close to 1.5 million passengers passed through the Croatian airports of Dubrovnik, Split, Zadar, Pula, Zagreb, Osijek, Rijeka, Brac and Mali Losinj, and in the first seven months around 4.4 million passengers were registered, an increase of 12.4% compared to the same period of last year, the Croatian Chamber of Commerce (HGK) said on Tuesday.

8 Croat companies to attend Gamescom fair in Cologne

A total of eight Croatian companies specialised in developing computer games will take part in the 17-21 August Gamescom in Cologne.

HGK: Unemployment is falling, but active Croatian population is shrinking, too

 A total of 219,419 Croatians were out of work at the end of June, which was the lowest level of joblessness since August 2008, however, other variables reflecting the state of affairs on the labour market, such as the number of employed persons and active population were more unfavourable compared to 2008, the Croatian Chamber of Commerce (HGK) said on Tuesday.

Croatia's public debt down for first time since 1999

Croatia's public debt at the end of the first quarter of 2016 was HRK 288.3 billion, HRK 4.7 billion less on the year (-1.6%), which was the first public debt decrease annually since 1999, the Croatian Chamber of Commerce (HGK) said on Sunday.

Croatian Chamber of Commerce to open offices in Shanghai, Belgrade, Sarajevo

The Croatian Chamber of Commerce (HGK) Assembly decided on Monday to open HGK offices in Shanghai, Belgrade and Sarajevo by the end of the year, and there are plans to also open offices in Vienna, Milan, Munich and Istanbul.

Online Croatian Products Catalogue launched

The Croatian Chamber of Commerce (HGK) has conceived a new online service, the Croatian Products Catalogue, to raise the share of domestic products in public procurement, the HGK said on Thursday.

Italian investors continue investing in Croatia but want better business climate

The conference, held at the Croatian Chamber of Commerce (HGK) Zagreb office, brought together some 50 representatives of Italian companies operating in Croatia.

Budget revenue +3.7%, expenditure -6.5% in Q1

In the first three months of this year HRK 29.14 billion poured into the state budget, which is an increase of 3.7% on the year while expenditure amounted to HRK 31.05 billion, an annual drop of 6.5%, data from the Finance Ministry indicates.

Croatian-Ukrainian economic forum held in Split

A Croatian-Ukrainian economic forum was held in Split on Friday, bringing together about 40 Ukrainian and Croatian companies, the Croatian Chamber of Commerce (HGK) said in a press release.

Gredelj closes $100 mln deal in Iran

"We prepared concrete projects for the largest Iranian companies in the rolling stock business," Gredelj's bankruptcy trustee  Pero Hrkac said upon returning from Iran.

HGK: Iranian market an opportunity for Croatian exports

The forum was held as part of President Kolinda Grabar-Kitarovic's visit to Iran on May 16-19 and involved about 70 Croatian and 150 Iranian business people.

Croatian-Albanian business forum focuses on Adriatic-Ionian gas pipeline and motorway

Last year trade between Croatia and Albania reached only slightly more than 70 million euros, which shows that the existing potential is not sufficiently used, Nishani said.

Croatia's gross foreign debt drops for 2nd consecutive month

Croatia's gross foreign debt was EUR 45.4 billion at the end of January 2016, down for the second consecutive month year on year, according to the latest figures released by the Croatian National Bank (HNB).

Croatia faced with challenges to become competitive with Rijeka-Zagreb-Budapest route

In order for Croatia to be competitive in transport in the Rijeka-Zagreb-Budapest route and for the Rijeka Port to be able to compete with Koper Port in Slovenia, answers need to be found for numerous challenges that are dictated by contemporary transport systems ...

HGK: Reforms are focused on critical areas

The Croatian Chamber of Commerce (HGK) says that the National Reform Programme, adopted by the government on Thursday, is focused on areas where reforms are needed the most, ...

Economic cooperation between Croatia and Turkey good, but far from potential

Economic cooperation between Croatia and Turkey is good, but still far from the two countries' potential, it was said at the start of the Croatian-Turkish Economic Forum in Zagreb on Wednesday.

HUP, HGK urge immediate action to remove macroeconomic imbalances

The HUP official said that the figures showed that some headway had been made last year regarding the reduction of the budget deficit, but not regarding the public debt.

HUP calls for reduction of parafiscal charges

The Croatian Employers' Association (HUP) urged the government on Wednesday to analyse the existing parafiscal charges, listing 10 charges that put a considerable burden on enterprises and 11 "bizarre" charges it considered completely unwarranted.

Chamber of Commerce urges quicker, more courageous decisions by policy makers

Croatian Chamber of Commerce (HGK) President Luka Burilovic said on Wednesday that policy makers had to make decisions more quickly and courageously and that reforms had to be implemented more successfully.

Women are drivers of positive change, conference hears

Women are the drivers of positive changes and female entrepreneurship should be boosted, a conference organised by the Croatian Chamber of Commerce on promoting women in entrepreneurship heard on Friday.

Conference on computer games industry as driver of economic growth

Over the last five years the computer games industry in Croatia has recorded an average annual increase in revenues of 55.5%, while export revenues have gone up 63% annually, a conference heard in Zagreb on Friday.

Cars in Croatia increasingly old, unsafe

Josip Zaher of the Croatian Chamber of Commerce (HGK), which organised the event, said that 100,000 vehicles were sold in Croatia in 2008, including 88,000 new ones, while 80,000 vehicles were sold in 2015, including 35,000 new.

Environment ministry preparing waste management system upgrade

The Environment and Nature Protection Ministry is preparing an upgrade of the waste management system in order to set up an economically and ecologically sustainable system based on circular economy, Deputy Minister Marko Siljeg said on Tuesday.

HGK, HUPsays projected GDP growth biggest risk for budget

The Croatian government adopted the draft 2016 budget at its meeting on Thursday, projecting revenues at HRK 114.9 billion, expenditures at HRK 122.4 billion and a deficit of HRK 7.5 billion or 2.2% of GDP.

Chamber of Commerce doesn't expect more dynamic growth

The Croatian Chamber of Commerce (HGK) said on Friday the 1.9% GDP growth in the last quarter of 2015 was as it had expected and that it did not expect this year's GDP growth to be more dynamic than in 2015.

Chamber of Commerce: 2% GDP growth feasible, albeit optimistic

"The proposed guidelines are just the first step, which should be followed by structural reforms as only they can ensure a long term sustainability of public finance and return the country to the level of investment rating in the short term," Savic said.

PM: Gov't open for business

Prime Minister Tihomir Oreskovic  said on Tuesday that over the past 30 days he had talked with investors and told them that the government was open for business and that it would do everything to attract investments.

Croatian winemakers attend Belgrade fair

Ten Croatian companies, including eight wineries and two manufacturers of winery and viticulture equipment, are attending the BEOWINE international wine fair in Belgrade on February 18-21, the Croatian Chamber of Commerce (HGK), which organised the Croatian presentation, said on Sunday.

Croatia's nautical tourism grows in importance

Croatia is an increasingly popular destination for nautical tourists thanks to its coastal scenery, islands and national and nature parks in its Adriatic area.

Vignettes could give fresh impetus to economy, says HGK

The Croatian Chamber of Commerce (HGK) said that hauliers could benefit from vignettes, adding that road tolls could also give a fresh impetus to the economy.

HGK: Import of agricultural products still too high

Compared with the same period in 2014, exports increased by 19% and imports grew by 9% and the deficit was reduced by 2%. The HGK said that it was pleased that the negative balance had been reduced, however, imports were still far too high.     

Croatian and Hungarian chambers ink agreement

According to HGK figures for the first half of 2015, Croatia imported US$ 133.86 million worth of agricultural and food products from Hungary, while exporting $45.8 million.

HGK expects implementation of reforms announced by PM-designate

The Croatian Chamber of Commerce (HGK) said on Friday that some of the measures announced by Prime Minister-designate Tihomir Oreskovic had also been in the focus of the previous governments, but few had been implemented.

Small businesses producing hard liquors in Croatia on increase

Zaklina Jurisic of the HGK sector for agriculture said that the adoption of the legislation on excise duties and some rule books as well as the continued training of producers had helped them to reach the demanding standards on the EU market.

HGK: Public debt growth still remains high

The HGK said that public debt in September 2015 was up 5.9% on the year, caused mostly by the central government whose debt increased by 6.1%. Local government debt at the same time was reduced by 5.2%.

Croatian agricultural and food exports up 19%

"Despite the increase in imports, the positive thing is that the increase in the negative balance has finally been slowed down. We expect data for 2015 to show positive trends in relation to 2014, including a decrease in the negative balance,"

Average age of cars in Croatia increasing

In 2014 the average age of cars used in the EU was 9.65, according to statistics provided by the European Automobile Manufacturers' Association (ACEA).

Chamber of Commerce urges forming gov't, launching reforms

Speaking of the HGK, he said a lot had been done over the past 18 months, including structural reforms "which aren't over yet... We want to make the Chamber a quality service for businessmen."

Croatian trade delegation visiting Slovakia

The delegation of about twenty Croatian companies will be led by HGK president Luka Burilovic as part of an official visit to that country by President Kolinda Grabar-Kitarovic,

Gross foreign debt grows 4.1% on year

Compared to July, the gross foreign debt was 1.5 billion euros down, but compared to August 2014, it went up by 1.9 billion euros. 

HGK expects further increase in investments this year

After four years of decline, which began in 2009, investments have slowly started to recover, the HGK said on Tuesday.

Vidosevic's 4 accomplices sentenced after plea-bargain with USKOK

In the indictment against Vidosevic and eight other persons prosecutors have requested taking from Vidosevic HRK 39 million of illegal gain.

Croats set to spend EUR 1.5 bn during December - HGK

She called on Croatians to give a priority to domestic products and commodities explaining that only a five-percent increase in the purchase of Croatian products would have a positive effect on the national economy.

Sunny days ahead for Croatia's real estate market

"The market will definitely not reach the levels from 2008, when 60,000 transactions were conducted in Croatia. This year we will have had 30,000 transactions," Zaher said

HGK: Growth insufficient to reach EU average at faster pace

The Croatian Chamber of Commerce (HGK) said on Thursday that the latest forecasts by the European Commission on Croatia's economic growth were as expected ...

President calls for creating climate facilitating employment

"Unemployment is still high, and employment low, and our public debt is a growing problem which is at the risk of escalating unless we reach a growth rate of ...

HGK says Croatia makes no significant progress in Doing Business report

The Croatian Chamber of Commerce (HGK) said on Wednesday that the use of a different methodology and Croatia's admission to the European Union had significantly improved

"Buy Croatian" exhibition in Zagreb's main square

The Croatian Chamber of Commerce (HGK) on Wednesday organised a "Let's buy Croatian" event in Zagreb's main square, ...