Tuesday is D-Day for Lex Agrokor
The Croatian Constitutional Court is expected to publish its ruling on Lex Agrokor tomorrow, Tuesday, 08 May 2018. The Law (on Special Administration in Companies of Systemic Importance for the Republic of Croatia, commonly known as Lex Agrokor), was adopted by the Parliament on 06 April, 2017. The Law defines strategic companies as those employing more than 5,000 workers and having liabilities exceeding Kn 7.5 billion (EUR 1 billion).
07.05.2018 Read More
European Commission Berates Zagreb
The European Commission issued its regular report on Croatia this week. The report lists some limited improvements in implementation of some of the Commission’s recommendations from last year, but says structural reforms are lagging behind. The report analyzes economic and social situation in the member states, and assesses possible imbalances. […]
09.03.2018 Read More
Is Croatia Ready for the Next Crisis?
After the EC criticized Croatia for being the slowest EU member when it comes to structural reforms, T-Portal asked three prominent economists how is Croatia actually doing? The EC stressed that the Croatian budget is not under strain because of historically low interest rates and growing demand, especially tourism in Croatia’s case.
MP Željko Lovrinčević, Guste Santini and Mladen Vedriš (former DPM and former chair of the Chamber of Commerce) believe Croatia will have it easy for another year or two, when the growth (and demand) will slow down, and tourists will return to traditional destinations such as Greece, Tunis, Morocco or Turkey. And the public debt will grow together with interest rates. Croatia also lags significantly behind other EU countries. […]
09.03.2018 Read More
EC Thinks Agrokor Crisis is a Threat to Recovery, Expects Growth to consolidate
The European Commission stands by its expectation that the Croatian GDP will grow by 2.8% in 2018, same as three months ago. The EC sees personal consumption as the main motor of growth, and Agrokor restructuring as the biggest individual threat.
As for last year, the Commission still believes Croatian GDP grew by 3.2%, the same as it forecasted last autumn. The Statistical Institute is expected to publish the final 2017 numbers by the end of this month. Data for the first three quarters of 2017 show around 3% growth. After the recent corrections indicated the GDP growth in 2016 to be around 3.2%, the EC believes that the same rate of growth will continue in 2017 since the economic activity was intensive in the first three quarters of last year. […]
07.02.2018 Read More