Plenković : Le PIB croate croît environ quatre fois plus vite que la moyenne de l’UE

Prime Minister Andrej Plenković rated the news that Croatian GDP grew by 3.9 percent in the third quarter as excellent, emphasizing that the Croatian economy is growing approximately four times faster than the economies of most other EU member states.

The State Bureau of Statistics (DZS) published the first estimate according to which the gross domestic product (GDP) in the third quarter grew by 3.9 percent in real terms compared to the same period last year. This is already the 15th consecutive quarter of economic growth, and this time it was primarily driven by household consumption, which increased by 5.5 percent, as well as gross investments in fixed capital, which jumped by 9.2 percent year-on-year.

Plenković reminded that in the first quarter of this year, growth was four percent, and in the second 3.5 percent. He hopes for a ‘high GDP growth rate’ in the last quarter of this year, while recalling the government’s projections that Croatian GDP will certainly grow by 3.6 percent this year. At the same time, the Prime Minister emphasized that comparative data shows that the average growth in this quarter at the EU level will be one percent, and at the euro area level 0.9 percent.

– This shows that the Croatian economy is growing approximately four times faster than the economies of most other EU member states – said Plenković, who attended the ceremonial opening of the renovated building of the Ministry of Foreign and European Affairs.

Doubling absolute GDP in nine years

In addition to consumption growth, which is also a result of wage growth, according to Plenković, the growth of exports is particularly encouraging, so it can be said that the growth has healthy foundations.

Namely, according to today’s DZS report, the export of goods and services increased in the past quarter by 1.5 percent year-on-year. At the same time, the export of goods increased by 6.3 percent, while the export of services fell by 1.8 percent. Plenković emphasized that the ‘catching up’ policy has been the fundamental framework of his governments since 2016 and that it is ‘something we systematically implement’. Thus, in 2016, absolute GDP amounted to 47 billion euros, while estimates suggest that by the end of 2024 it will reach 86.4 billion euros, and by 2025 it will reach 92.4 billion euros.

– This means that we are in a situation where we will practically double our absolute GDP within nine years – emphasized Plenković.

Thus, when it comes to the level of development compared to the EU average, in 2016 it was 62 percent, next year it should reach around 79 percent, while the government’s ambition is to reach 82 percent by the end of its term.

– This is what is felt and what citizens, I am sure, will feel at the level of their economic and social standard – said Plenković.