After enjoying solid growth rates averaging 4.3% from 2004-08, Croatia’s economy descended into a deep recession in 2009. Slowing capital inflows depressed domestic demand and Croatia’s economy contracted an estimated 6.0% in 2009. The recovery will be tepid due to sluggish bank lending, tight fiscal policy and rising unemployment. RGE forecasts flat economic growth in 2010.

Read the Q1 2010 Croatia Outlook.

RGE Analysis

Croatia: Q1 2010 Outlook

By Jelena Vukotic Jan 30, 2010

Croatia Economic Outlook, Q4 2009

Jelena Vukotic Oct 07, 2009

Croatia Economic Outlook, Q3 2009

Mary Stokes & Jelena Vukotic Jul 24, 2009

Daily Digest

News

Austria sees Croatia concluding EU talks in 2010

EurActiv Mar 16, 2010

News

Croatia: January retail trade down 9.3% yoy

Croatia Central Bureau of Statistics Mar 15, 2010

News

Croatia: Employment in industry down 8.7% yoy in January, Labor productivity up by 9.5% yoy

Croatia Central Bureau of Statistics Mar 15, 2010

Analysis

Croatia Monthly Bulletin: Information on Economic Trends and Statistical Survey

Croatian National Bank Mar 15, 2010

Analysis

CEE Currencies Monthly

InvestKredit/Volksbank Stephan Imre Mar 12, 2010

Analysis

Croatia — Government abandons 2% special personal income tax; Czech Republic —Final 4Q09 GDP q/q growth revised up; Hungary — CPI slowed to 5.7% y/y in February; Poland — Zloty’s gains worry central bank; Romania — Successful Eurobonds issue

ERSTE Bank Mar 12, 2010

Analysis

CEE Weekly - Poland: Positive sentiment pushes yields further down; Hungary: More cuts in the pipeline?; Czech Republic: GDP increased by 0.7% in Q4; Croatia: Trade deficit still declining; Romania: EUR 1bn 5-year Eurobond; Turkey: Sadly no IMF agreement

Raiffeisen Research Mar 12, 2010

News

Croatia paves way for Adriatic LNG terminal

Reuters Igor Ilic Mar 11, 2010

Analysis

Foreign Direct Investment in Central and Eastern Europe: A case of boom and bust?

PricewaterhouseCoopers Mar 11, 2010

Analysis

Lex: Eastern Europe

Financial Times Mar 11, 2010

News

Romania Offers Yield Above Croatia’s in Biggest Bond

Bloomberg Piotr Skolimowski Mar 11, 2010

News

EU-bound Croatia faces stagnation without reforms

Reuters Zoran Radosavljevic Mar 10, 2010

Analysis

Croatia: Real fall in income certain in 2010

Privredna Banka Zagreb Mar 8, 2010

Analysis

Are the EU and the Balkans drifting apart?

Friedrich-Ebert-Stiftung Björn Kühne Mar 8, 2010

Research

wiiw Forecast for Central, East and Southeast Europe, 2010-2012: Crisis Is Over, but Problems Loom Ahead

Vienna Institute for International Economic Studies Mar 5, 2010

News

Croatia president ready to bury hatchet with Serbia

EU Business Mar 5, 2010

Analysis

Croatia: Successful government bond placement; Czech Republic: 2H10 bond issuance will have to be heavy; Hungary: 4Q09 GDP details and February CPI in focus next week; Poland: 4Q GDP data in line with expectations; Romania: Government yields keep falling

ERSTE Bank Mar 5, 2010

News

Croatia faces 'demanding' membership negotiations

European Voice Toby Vogel Mar 5, 2010

Analysis

Energy security in Europe: Central questions

Economist Mar 4, 2010

Analysis

CEE Weekly - Poland: Strong demand despite looming rate hikes; Hungary: Positive sentiment - for now; Czech Rep: Bond issuance calendar more slim in Q2; Croatia: Negative trend in retail sales slows down; Romania: Low investments in Q4

Raiffeisen Research Mar 5, 2010

News

Croatia, Russia sign South Stream contract

Southeast European Times Mar 4, 2010

News

Austrian Central Bank: Eastern European writedowns haven't peaked

Reuters Boris Groendahl Mar 3, 2010

Analysis

Adriatic Watch: a Must for the European Commission

Jamestown Foundation Vladimir Socor Mar 2, 2010

Analysis

Croatia Fixed Income Monthly: New bond issue ahead; 4Q GDP down 4.4% y/y; Unemployment hits 17.7% in January

ERSTE Bank Mar 2, 2010

Analysis

Croatian real GDP contracted by 4.4% yoy in Q4 2009

Raiffeisen Research Mar 1, 2010

Analysis

Poland: MPC sees balanced inflation risks; Hungary: 375 – was that it ? Czech Republic: Demand for CZK government bonds strong; Croatia: Still low inflationary pressures; Romania: IMF disburses EUR 2.4 bn

Raiffeisen Research Feb 26, 2010

Analysis

CEE Insights - Croatia: 4Q GDP down 4.4% y/y; Czech Republic: Government bond auction drew heavy attention; Hungary: Investments declined 11% y/y in 4Q09; Poland: January retail sales disappointed; Romania: Consolidated state budget ended Jan in surplus

ERSTE Bank Feb 26, 2010

Analysis

Croatia: 4Q GDP down 4.4% y/y

ERSTE Bank Alen Kovac Feb 26, 2010

News

East Europe for more energy security: Hungary

EU Business Feb 25, 2010

Analysis

CEE Financial Market Report: Economic Expectations for Central and Eastern Europe Decline

ZEW (Centre for European Economic Research) and Erste Bank Feb 24, 2010

Analysis

ZEW-Erste Group Bank Sentiment Indicator for Central and Eastern Europe (CEE) - Economic Expectations for Central and Eastern Europe Decline

ZEW - Centre for European Economic Research Feb 19, 2010

Analysis

CEE Financial Market Report: Economic Expectations for CEE Remain Optimistic

ZEW (Centre for European Economic Research) and Erste Bank Feb 22, 2010

News

Croatia: January 2010 CPI increases by 1.1% on an annual basis

Croatia Central Bureau of Statistics Feb 22, 2010

News

Croatia makes progress in EU membership talks

European Voice Toby Vogel Feb 19, 2010

Research

South-Eastern Europe: Lessons from the global economic crisis

European Bank for Reconstruction and Development Peter Sanfey Summary Feb 19, 2010

News

Central/Eastern European real estate companies see value halved

Financial Times Daniel Thomas and Alice Ross Feb 19, 2010

News

Croatia takes two more steps towards EU membership

EU Business Feb 19, 2010

Analysis

CEE Weekly - Poland: Positive industrial production data; Hungary: The last cut? Czech Rep: GDP drops again; Croatia: Facing the challenges in tourism in 2010; Romania: Low C/A deficit in 2009; Turkey: Political tensions on the rise

Raiffeisen Research Feb 19, 2010

Analysis

CEE Insights - Croatia: Expecting more details on government bond refinancing; Czech Rep: Retail sales situation grim; Hungary: Central bank to cut base rate; Poland: Industrial output posted another positive surprise; Romania: Eurobond issue in 1Q10

ERSTE Bank Feb 19, 2010

News

Eastern European Investor Confidence Falls as Recovery Falters

Bloomberg Adam Brown Feb 19, 2010

Analysis

Special Report: Fiscal situation in CEE

ERSTE Bank Feb 18, 2010

News

Croatia's new president vows untiring corruption fight

EU Business Feb 18, 2010

Analysis

CESEE Quarterly Q4 2009 – Q1 2010

Volksbank Jan 29, 2010

Analysis

Croatia: Q1 2010 Outlook

RGE Jelena Vukotic Jan 1, 2010

Analysis

Croatia: Political changes to be followed by economic changes

Raiffeisen Research Jan 1, 2010

Analysis

Serbia's NIS, Croatia's INA to Discuss Options for Co-Operation

Global Insight Feb 16, 2010

News

Dutch lift veto on Croatia accession talks

European Voice Toby Vogel Feb 12, 2010

Analysis

CEE Weekly - Poland: More optimistic euro convergence plan; Hungary: Uncertain budget outlook; Czech: Inflation starts lower then expected in 2010, Croatia: Retail trade declines by 15.3% in 2009; Romania: Economic activity bottoms out

Raiffeisen Research Feb 12, 2010

News

EU Membership Just Got Tougher

Wall Street Journal Kejal Vyas Feb 10, 2010

News

Croatia's accession negotiations set to conclude this year

EurActiv Feb 11, 2010

Analysis

Croatia: CNB reduced the bank reserve requirement rate

Raiffeisen Research Feb 8, 2010

Analysis

Poland: Bond yields up again after strong decline; Hungary: Q4 GDP coming up; Czech Republic: CNB expects rate hikes in H2; Croatia: Waiting for trade recovery; Romania: NBR cuts key rate to 7%

Raiffeisen Research Feb 5, 2010

News

Croatia bad loans up, but banks stable -c.bank

Reuters Feb 3, 2010

News

Prospects for countries hoping to join EU-FACTBOX

Reuters Feb 2, 2010

Opinions

Banking: A disorderly descent; BayernLB’s failed structured investments in Austria's Hypo Group Alpe Adria

Financial Times James Wilson Feb 1, 2010

News

Croatia to suffer another recession year -institute

Reuters Feb 1, 2010

Analysis

Croatia: Fixed Income Monthly - January 2010

ERSTE Bank Jan 1, 2010

Analysis

Recovering Markets

Europe EconoMonitor Marcus Svedberg Jan 26, 2010

Analysis

CEE Weekly - Poland: Solid GDP growth in 2009; Hungary: Clouds on the Horizon; Czech Republic: Strong demand in 3y bond auction; Croatia: Industrial production continues to fall; Romania: NBR to cut key interest rate again;

Raiffeisen Research Jan 29, 2010

News

Croatia tries again to privatise ailing shipyards

EU Business Jan 28, 2010

News

Croatian government, opposition fail to agree on constitutional amendments

Southeast European Times Jan 22, 2010

News

2012 'realistic deadline' for Croatia's EU entry

EurActiv Jan 25, 2010

Analysis

EBRD ups 2010 forecasts for some countries, recovery remains fragile

European Bank for Reconstruction and Development Jan 22, 2010

Analysis

Poland: Bond demand stil upbeat; Hungary: Another 25bp cut?; Czech National Bank talks about future rate hikes; Romania: Bond prices increased further; Turkey: IMF hopes wane

Raiffeisen Research Jan 22, 2010

Analysis

FI & FX CEE Insights - Croatia: S&P confirmed Croatia’s sovereign rating; Czech Republic: MinFin focusing on foreign market liquidity; Hungary: Central bank to cut base rate by 25bp on Monday; Poland: PLN outperforming its peers

ERSTE Bank Jan 22, 2010

Analysis

EW-Erste Group Bank Sentiment Indicator for Central and Eastern Europe (CEE) - Economic Expectations for Central and Eastern Europe Remain Optimistic

Centre for European Economic Research (ZEW) Jan 22, 2010

News

Eastern European Investor Confidence Rises to Record on Exports

Bloomberg Adam Brown Jan 22, 2010

Analysis

Global Economic Prospects 2010: Crisis, Finance, and Growth

World Bank Jan 21, 2010

News

Eastern Europe’s Economic Recovery to Be Muted, World Bank Says

Bloomberg Chris Kirkham Jan 21, 2010

News

EU to export supervision rules to Balkans and Turkey

EurActiv Jan 20, 2010

News

Lenders in eastern Europe bet on recovery

Financial Times Stefan Wagstyl and Patrick Jenkins Jan 19, 2010

Opinions

If the EU reneges on Balkan enlargement it’s at its own peril

Europe's World Otto Schily Jan 1, 1900

Opinions

Croatia’s challenge

Financial Times Jan 13, 2010

Analysis

Croatia's presidential election: Enter a lawyer-composer

Economist Jan 14, 2010

Analysis

CEE Weekly: Poland - Eurobond tender pushes yields further down; Hungary - Sell the HUF; Czech - Latest economic data disappoints; Croatia - Strong decline in retail trade continues; Romania - Sharp fall in market interest rates

Raiffeisen Research Jan 15, 2010

Analysis

Gazprom Wooing Croatia Ahead of Putin-Kosor Meeting

Jamestown Foundation Vladimir Socor Jan 14, 2010

Analysis

The Impacts of Enlargement on the Central and Eastern European Countries

Korea Institute for International Economic Policy (KIEP) András Inotai Dec 1, 2009

Analysis

The Impacts of Enlargement on the Central and Eastern European Countries

Korea Institute for International Economic Policy (KIEP) András Inotai Dec 1, 2009

News

Slovenia, Croatia ready to clear way for Zagreb's EU talks

EU Business Jan 13, 2010

Analysis

Emerging Europe: Variety is the spice of life

Bank Austria Dec 13, 2009

Analysis

Candidate and Pre -Accession Countries' Economic Quarterly: Croatia, Macedonia, Turkey, Albania, Bosnia, Montenegro, Serbia, Kosovo - January 2010

European Commission - Economic and Financial Affairs Jan 1, 2010

Analysis

Croatia: EU entry in 2012 becomes a distinct possibility

Bank Austria Jan 13, 2010

Analysis

Europe: Higher aspirations; Croatian concerns

Financial Times Stefan Wagstyl and Neil MacDonald Jan 13, 2010

Analysis

Price elasticity of nonresidential demand for energy in south eastern Europe

World Bank Atsushi Iimi Jan 1, 2010

News

Croatia Rating Affirmed With Negative Outlook on Debt

Bloomberg Boris Cerni Jan 12, 2010

News

Croatia, Serbia signal reconciliation

EurActiv Jan 12, 2010

Analysis

Fitch Affirms Croatia at 'BBB-'; Negative Outlook

Fitch Ratings (free registration) Jan 12, 2010

Analysis

Inherited or Earned? Performance of Foreign Banks in Central and Eastern Europe

IMF Olena Havrylchyk and Emilia Jurzyk Jan 11, 2010

Analysis

Croatia's presidential election: In safe hands

Economist Jan 11, 2010

News

Clear win for Josipovic in Croatia race

Financial Times Neil MacDonald Jan 11, 2010

News

Josipovic Wins Croatia Presidency to Speed EU Talks

Bloomberg Boris Cerni Jan 11, 2010

Analysis

CEE Equity Strategy 1Q 2010 and outlook 2010

ERSTE Bank Jan 11, 2010

Analysis

FI & FX CEE Insights - Croatia: 3Q current account surplus narrowed; Czech: Nov trade balance in surplus; Hungary: CF-based fiscal deficit stood at 3.6% of GDP in 2009; Poland: PMI index stabilized at 52.4 in Dec; Romania: 2010 budget talks underway

ERSTE Bank Jan 11, 2010

News

Croatian socialist wins presidential election

EurActiv Jan 11, 2010

News

Croatians Vote in Presidential Runoff

Associated Press Jan 10, 2010

Analysis

Eastern Europe economy: The long-term impact of the crisis

Economist Intelligence Unit Jan 8, 2010

News

NBS Has Achieved its Aim – 2009 Inflation is around 7%

National Bank of Serbia (NBS) Jan 5, 2010

Analysis

The Impact of the Financial Crisis and Policy Responses in Croatia

Croatian National Bank Nikola Bokan, Lovorka Grguric, Ivo Krznar and Maroje Lang Dec 1, 2009

News

Croatia's presidential elections: Croatian graft fighter vs populist

Reuters Jan 8, 2010

Analysis

CEE Weekly: Poland - Short-term bonds to be offered; Hungary; How good is the good budget data? Czech Republic: 2009 fiscal deficit worse than expected; Croatia: Economic decline slows in Q3; Romania: Uncertainty declines in recent weeks

Raiffeisen Research Jan 8, 2010

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