Sunday, 16 June 2024
Croatia has improved its rating in the latest edition of the Wealth of Nations Index! Screenshot

Croatia has improved its rating in the latest edition of the Wealth of Nations Index!

Written by  Apr 28, 2023

The Wealth of Nations Index is an innovative measure of economic development created by the Warsaw Enterprise Institute. Out of 38 classified countries (EU+OECD), Croatia ranks 28nd. This is a rise of one notch compared to the previous edition. Ireland along with Switzerland and the United States are the top 3 countries on WNI.

The innovation of the index is that it evaluates separately the efficiency of public spending and private spending in the economy, relying on other widely recognized indices and measures. This time, the indications of the WNI correspond to the situation at the beginning of 2022, i.e. the moment of recovery from the COVID-19 epidemic. It is therefore interesting to compare them with the first edition of the index, which depicted the situation on the eve of the pandemic; one can thus see how the economies examined in both the first and current study (i.e. the EU countries and the UK) have coped with the global socio-economic crisis.

A pattern among European Union countries is the decrease in the indication of WNI in the west of the continent and the increases noticed in the east. The largest EU economies lost compared to 2020: Germany 2.1 points (2.2%), France 3.4 points (4.2%), and Italy 0.7 point (0.9%). On the other hand, Eastern European countries, at least in the economic aspect, seem to have left the COVID-19 epidemic behind. With a few exceptions such as Czechia, this region's economies recorded higher WNI scores than two editions ago. Poland is leading with 4.2 points (7.0%) above the score of two years ago. Croatia (plus 3.7 points, or 6.4%), Lithuania (3.6 points, or 5.1%), Bulgaria (2.1 points, or 4.5%) or Estonia (2.9 points, or 4.1%) did almost equally well.

 

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


Find us on Facebook