Exports and GDP growing on sound foundations but not sufficiently

Published: 5/5/2016

Over the six recession years, the Croatian economy exerted much effort to move away from the unsustainable growth model which marked the period up to 2008, stressed Governor Vujčić, concluding his presentation at the 19th scientific-professional conference Croatian Money Market. The entry into the EU and opening of the single market created opportunities best used by medium large corporations. These new generators of exports, growth and employment are diversified across a number of production activities. Nevertheless, the Croatian economic structure remains relatively unfavourable. The degree of sophistication of goods exports remains low and the same is true of the dominant position of tourism in services exports. To accelerate growth, it is necessary to introduce more complex and advanced products and services. The first step on this long and strenuous journey should be to remove the obstacles making entrepreneurs' business more difficult. According to entrepreneurs' opinion, this should primarily be done by simplifying the unnecessarily complex, often inconsistent and at the same time overly changeable business environment, followed by a systematic implementation of a new, simpler and more stable regulatory environment, Governor Vujčić stressed.