Monday, 30 November 2020
Zdravko Maric Zdravko Maric CROPIX

Growth of GDP in Croatia predicted for 2021

By  Nov 18, 2020

Deputy Prime Minister and Finance Minister Zdravko Maric said on Tuesday that the veto of Hungary and Poland on the European budget could not jeopardize the European recovery, while the projection of Croatian GDP growth in 2021 was still valid.

Asked about the veto imposed by Hungary and Poland on the adoption of the seven-year European budget and recovery plan and whether it could jeopardize the European recovery, Maric told reporters after the cabinet meeting that he personally thought it could not, and that such actions did not work. He believes, however, that this will be resolved quickly.

When asked by journalists to comment on the slowdown in the growth of the German economy, which can usually be reflected in Croatia, Maric said that the key determinant of the Croatian budget for next year was the readiness to respond to all challenges.

"If some things get complicated, the budget must respond clearly," he said, adding that the budget for this year could not have predicted a coronavirus pandemic at all, but that ways had been found to introduce measures to help the economy.

The current estimated growth rate of Croatia's GDP is five percent in 2021, Maric reminded.

"Depending on the further development of the situation, if things get a little better or a little worse, we will all have to adjust not only our projections but also our expectations," Maric said.

Given the re-closure of a good part of Europe, journalists asked Maric if he thought the growth estimate for next year would have to be adjusted downwards. "Not yet. The current projection is still valid," Maric said.

Marić stated that everyone, like Moody's and the European Commission, have approximately similar projections for Croatia and that the differences are not drastically large.


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