Analysis by Region - Emerging Markets - Croatia
We raised Croatia's 2024 GDP growth forecast by 0.1ppt to 3.5%. GDP rose 1% in Q1, broadly in line with our forecast. We continue to expect private and public consumption-driven growth this year thanks to strong real income growth and a positive fiscal impulse from higher government spending, which should see the Croatian economy grow significantly faster than the eurozone average. We see GDP growth slowing to 2% in 2025 as the rebound in real incomes fades and fiscal policy tightens, although looser monetary policy will support investment.
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