Croatian tourist pearl, Dubrovnik, hosted the 9th 16+1 summit of the Central and Southeast European (CSE) countries and China. The idea was born after the first Economic-Trade Forum in 2011 in Budapest.
The bankrupted company, Agrokor changed its name to Fortenova Group. It means that the creditors’ claims will be transferred to the new group.
Pessimistic economic news from Italy and Germany are starting to have a negative effect in Croatia. In the Q4’18, Italy went into recession, and Germany lowered its economic growth forecast for 2019.
In the first three quarters of 2018, CSE’s combined exports to China totaled USD17.6bn, a record high and up by over 20 per cent y/y. But the region has been racking up a large trade deficit with the Asian nation.
Croatian Minister of Economy Darko Horvat announced that this year the government will abolish more than 300 administrative processes that undermine entrepreneurs’ procedures and will save more than HRK600m.
The 2019 Economic Freedom Report by The Heritage Foundation shows that the world seems to be at a crossroads — it may continue on the path of economic freedom or it may return to hindered growth and development.
Banks in Croatia doubled their pre-tax profits in the first nine months of 2018, according to Croatian National Bank (CNB). Crotain banking sector has the highest capital employed in the economy, around HRK60 bn.
The European Union is the largest single market in the world, governed by uniform rules set out in the directives and regulations. However, the interpretation of these rules is determined by the EU bureaucracy.
According to the latest Eurostat data, hourly labor costs rose by 2.5 per cent in the Eurozone and by 2.7 per cent in the EU28 in the Q3’18 y/y. The corresponding numbers for the Q2’18 were 2.3 per cent and 2.7 per cent respectively.
Pelješac Bridge is a planned and unfinished bridge that should connect the Gulf of Mali Ston between Komarna and Brijesta on Pelješac in the Dubrovnik-Neretva County.