The Governor of the Croatian National Bank (CNB), Boris Vujcic, said in Dubrovnik on Sunday that he expects a strong GDP growth rate in the second quarter of this year, probably around 18 percent, largely due to the base period of the second quarter of 2020, when a sharp decline was recorded.
At an annual level, Vujčić expects GDP growth to be 6.8 percent, but with significant uncertainty due to the pandemic. "We have based the growth forecast on 70 percent of tourism revenue from 2019, but if it is 50 percent as last year, it would lower the growth rate to 4.8 percent," said Vujcic, who opened the 27th International Economic Conference in Dubrovnik.
The Governor of the CNB emphasized that the government played a significant role in supporting the maintenance of jobs, so the decline in the number of unemployed was smaller and the recovery faster.
"The crisis has accelerated the already existing processes of digitalization, teleworking and remote work,” added the Governor.