World Bank

World Bank upgrades Croatia's economy growth projections

The World Bank has markedly upgraded the forecasts for Croatia's economic growth in 2016 and 2017, expecting it to stabilise at around 2.5%, while global economy is expected to grow by close to 3%, according to a report released on Tuesday.

Financial sector reforms are crucial for sustained growth in Croatia and region

Financial sector development must go beyond improving access to bank credit and financial systems should develop in a balanced way through both bank and nonbank subsectors, including capital markets, the insurance sector, and other nonbank financial institutions to properly support inclusive growth in Europe and Central Asia (ECA), says a new World Bank report, presented in Zagreb on Friday.

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 the World Bank Group, and Croatia's total tax rate stands at 20.9% with 206 hours needed to make a total of 31 tax payments.

EU's Georgieva returns to World Bank after missing out on top UN post

European Commission Vice President Kristalina Georgieva, who missed out earlier this month on the top job at the United Nations, is leaving her Brussels post to rejoin the World Bank group, she announced Friday.

World Bank: Energy prices to rise by nearly 25 per cent next year

Global energy prices are forecast to rise by nearly 25 per cent next year, the World Bank said Thursday.

FinMin says IMF, WB satisfied with stable gov't as prerequisite for reforms

Caretaker Finance Minister Zdravko Maric held talks with World Bank and International Monetary Fund representatives in Washington on Saturday, saying that they viewed positively the fact that Croatia was in a position to have a stable parliamentary majority and government, that the 2017 budget was being drawn up and that, despite tight deadlines, he would do his utmost to implement tax changes.

Maric to lead Croatian delegation to WB and IMF annual meeting

Finance Minister Zdravko Maric will lead a Croatian delegation to the annual meeting of the World Bank (WB) and the International Monetary Fund (IMF) taking place in Washington on October 6-9, the Ministry of Finance announced on Thursday.

WB expects new gov't to launch reforms at start of term

The World Bank (WB) has revised upward its growth projection for Croatia for 2016 to 2.4% from 1.9% and maintained its forecast for 2017 at 2.0%, recommending that the future government launch necessary structural reforms at the start of its term to strengthen competitiveness and stabilise public finances.

World Bank upgrades growth projections for Croatia

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%.

World Bank slashes 2016 global growth forecast to 2.4 per cent

The World Bank is sharply lowering its 2016 forecast for the global economy, citing slow growth in rich countries, low commodity prices and weakness in global trade and investment.

World Bank vice president for Europe, central Asia completes Croatia visit

The World Bank officials also held meetings at the President’s and the Prime Minister’s offices and with the diplomatic community, "to discuss Croatia's reform agenda and reconfirm the World Bank Group's commitment and support to the Government's efforts."

World Bank: Palestinian economy hurt by financial deals with Israel

Revenue-sharing arrangements reached nearly 20 years ago between Israel and the Palestinian Authority are either "outdated" or have not been implemented, the World Bank warned on Monday, noting that the Palestinian economy was barely growing.

FinMin says Washington talks constructive

The Croatian delegation, consisting of representatives of the Finance Ministry and the central bank, is attending the World Bank and International Monetary Fund Spring Meetings in Washington on April 15-17.

World Bank: Pledges to help Syrian refugees top 1.6 billion dollars

Eight countries and the European Commission are pledging more than 1.6 billion dollars toward financing for a World Bank-led initiative to support Syrian refugees and region-wide recovery.

Croatian PM meets with new World Bank director for EU

Prime Minister Tihomir Oreskovic met in Zagreb on Monday with the new World Bank regional director for the European Union, Arup Banerji, the government's press service said in a statement.

World Bank: Zika economic impact could be 3.5 billion dollars

The economic impact of the fast-spreading Zika virus in Latin America and the Caribbean is likely to reach 3.5 billion dollars this year, but could climb if the mosquito-borne illness is not quickly contained, the World Bank said Thursday.

World Bank projects Croatia's growth in 2015 at 1.5%

In order to ensure macroeconomic stability and growth, it is essential to continue dealing with fiscal weaknesses and the high rates of inactivity and unemployment and to resolutely implement long-term structural reforms

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

Grcic: Progress made in Doing Business ranking impressive

The minister stressed that Croatia's score in the Doing Business ranking was not accidental but the result of the government's efforts and the country's EU membership

Construction minister: Croatia makes enormous progress in Doing Business report

The minister explained that the rankings in the construction sector depended on four segments -- the quality of construction, the issuing of construction ...

Milanovic says Croatia good for business and sensitive towards those less fortunate

"In the past four years we jumped from the 85th to the 40th place on the list of 190 world economies, which is good," Milanovic said.