Croatia would need to export nearly 15 billion euros this year, in addition to 8 billion euros, to cover all its gaps! The external debt could therefore be 2.5 times greater than the value of exports, which raises questions about meeting foreign obligations.
Why is Croatia not an exporting country? Because it lacks export products, answers economist Ljubo Jurčić. In fact, Croatia is the country with the fewest export products in Europe, because, according to Jurčić, a system has been created over the years in which it is not profitable to produce or export. Until this changes, it is illusory to talk about new or old export offensives. Although the situation in which everyone is aware of this problem, yet no one is taking action to resolve it, has lasted (too) long, warnings about the unsustainability of the consumer-import model are becoming increasingly louder. Governor Željko Rohatinski continues to emphasize the need to stop the increase in foreign debt relative to GDP by promoting exports, significantly rationalizing domestic consumption, and increasing domestic savings.
