After 12 years of preparation, Croatia will join the EU, for which numerous celebrations and fireworks will be held, attended by many high-ranking foreign officials to congratulate the 28th member of the EU, but the problem is that many citizens are not in the mood for celebration, The Economist reported in its latest printed edition.
In the article titled ‘New EU Member with Old Economic Ailments’, The Economist further writes that Croatian President Ivo Josipović will host the presidents of five Balkan countries that are not EU members on July 2 to encourage them in their efforts towards European integration.
‘The problem is that most Croats are not in the mood for celebration,’ the paper continues, adding that ‘this is not surprising at all.’
– Since 2009, the Croatian economy has either been declining or stagnating. This year, GDP is expected to fall by 0.3 percent. In 2008, unemployment was 13.4 percent, and this year it will likely exceed 20 percent. Youth unemployment, as elsewhere, is quite high. Corruption remains a significant problem. In 2008, foreign direct investment peaked at 4.2 billion euros, while last year it amounted to only 624 million euros – the article states.
– Croats have been told for years that their lives will be better in the EU. Now, as President Josipović says, Croats are realists who understand that merely joining the EU will not bring a magic formula for economic recovery. Nevertheless, 11 billion euros from structural funds is allocated to Croatia in the next decade. Croatia is better prepared for membership than Bulgaria and Romania, as assessed by a diplomatic source; however, after joining the EU, it is crucial not to falter in reforms, as it still faces enormous challenges – The Economist reported, among other things.
