10 Consecutive Months of Growth in Croatia
- New Europe Investor
- July 03, 2015
Croatia’s economic recovery appears to be continuing at full speed according to the central bureau of statistics.
Statistics for May show the country grew again over the year, meaning it has now recorded 10 months of consecutive growth.
It is the first time the country has recorded this many months of consecutive growth since 2007.
That was two years before the country entered recession in 2009. It is only in recent months that Croatia formally came out of its six year long recession that has cost the country a significant portion of its GDP.
Consumption in Croatia was also up year on year, showing an increase of 4.1%. This is significantly larger than the figure for April, which was 2.5%.
Analysts are expecting healthy growth and consumption figures to continue well into the year.
Croatia are the newest entrants to the European Union, joining in July 2013. They are soon to begin receiving large amounts of structural funding from Europe that is sure to have a positive impact of job creation and GDP.