Published: May 18, 2011
Analyst says economy is “still hibernating” but may awaken in summer.
Croatia’s economy could start to recover slowly during the second half of this year, according to Peter Brezinschek, Chief Economist of Raiffeisen Bank International.
In a new research note, Brezinschek said he expects GDP to grow by 1% this year thanks to tourism and an expected recovery in consumption during the second half. That’s far behind expected growth across Central and Eastern Europe of 3.9%. “Croatia’s economy is still ‘hibernating’ and we don’t see it awaking before the summer,” Brezinschek said.