The latest data on the decline in industrial production is yet another in a series of alarming figures, but trends do not change suddenly, said today the Minister of Economy Ivan Vrdoljak when asked for a comment on the 4.3 percent drop in industrial production in November compared to the same month last year.
It is yet another alarming data point, but trends do not change ad hoc but systematically, Vrdoljak said after a meeting with unions about the restructuring of shipyards.
He added that he believes this is one of the last major declines and that positive signs will follow in 2013 in industrial production and gross domestic product.
When asked what measures he can announce to reverse negative trends, he said that industrial policies need to be defined so that it is known which industrial sectors Croatia considers promising for investment, and then to encourage them.
One of the models is to save as much shipbuilding as possible or to open new potentials in that area and improve the investment climate, especially for private investments, Vrdoljak said. He sees great potential in public investments which, as he said, when they start, stimulate the economy.
Industrial production in Croatia in November fell by 4.3 percent compared to the same month last year, the Croatian Bureau of Statistics announced today. According to seasonally adjusted data, industrial production in November increased by 1.1 percent compared to October.
