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Croatian Growth to Hit 1.7% Next Year

Ernst & Young has said the Croatian economic recovery is set to build momentum next year to 1.7% growth. 

The expected growth for 2015 is set to be a very modest 0.3% according to the latest edition of Ernst & Young’s Eurozone Forecast. The forecast offers a more promising 2.5% growth forecast for 2017 and 2018.

EY noted the growing performance in the country’s consumption and investment levels, and the increase in imports and exports.

Croatia lost a significant portion of its GDP during a recession in the country that lasted six years. It has only begun to emerge from the recession this year.

A executive director of EY said following the report, “the latest data shows that from the end of a long lasting recession in Croatia, we now expect small but steady growth. In addition, the expected growth of investments in Europe, opens up opportunities for attracting new investments in Croatia.”

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