Central bank governor says GDP growing on healthy foundations

National Bank (HNB) governor Boris Vujcic has said Croatia should not be happy with a 2% GDP growth, as it is a relatively low growth rate compared to other eastern European countries, adding however that it is a good thing that the growth is based on healthy foundations and underscoring the central bank is consistent in protecting the exchange rate of the national currency.

GDP is growing on healthy foundations because exports are growing and not only consumption as it has been the case so far, Vujcic told Croatian Television on Sunday evening. It is also good that together with the public debt, all other debts are decreasing as well, Vujcic said.

He voiced optimism, underlining however, that reforms were necessary in all sectors -- the public administration, judiciary, the health sector, education.

He underscored that the deficit, according to the central bank's projections, would drop below 3%.

Vujcic also stressed that more efforts needed to be invested to increase GDP in order to improve the country's credit rating.

Last update: Mon, 25/04/2016 - 10:55

More from Croatia

Plenkovic: It's time to deal with the past

Prime Minister Andrej Plenkovic said on Thursday that, by attending in Slovenia earlier today the burial of victims...

Croatian PM going to Bosnia with messages of support

Croatian Prime Minister Andrej Plenkovic said on Thursday he would give two key messages during his visit to Bosnia...

FinMin says tax reform effect in 1st year up to HRK 2b

The effect of the draft tax reform in the first year will range from HRK 1.9 billion to 2 billion but the lower...

PM sees tax reform as one of most important in this gov't term

Prime Minister Andrej Plenkovic said at the government session on Thursday that tax reform was of the the most...

PM: Coming to terms with past important for democratisation

Croatia's Prime Minister Andrej Plenkovic has said that his cabinet deems that coming to terms with the legacy of...