Croatia's economy to grow by 1.9% in 2016 — IMF

October 5, 2016 10:57 am 

ZAGREB, Oct. 5 — The International Monetary Fund (IMF) on Tuesday reaffirmed its projection for Croatia's economic growth by 1.9 percent in 2016.

In its latest World Economic Outlook, IMF said the country's economy is expected to grow by 1.9 percent in 2016, unchanged from the projection they made in April, and the growth would pick up to 2.1 percent in 2017.

The IMF also reaffirmed the estimated unemployment rates in 2016 and 2017 of 16.4 percent and 15.9 percent respectively, as given in the April report.

However, IMF revised the inflation projections for 2016 and 2017. It expected consumer prices would decline by 1.0 percent in 2016, while in April the IMF expected the prices to rise by 0.4 percent.

For next year, IMF said consumer prices would rise by 0.8 percent, while report in the April said they were expected to increase by 1.3 percent.

The IMF forecast the country's surplus in 2016 would increase to 3.0 percent of gross domestic product (GDP) from 2.7 percent projected in April. Meanwhile, the surplus for next year is expected to slide to 2.2 percent. (PNA/Xinhua)

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