According to information from HUB’s analysis from September 2020, Croatian banks expressed distrust regarding the speed of recovery from the pandemic crisis. Alongside them, the European Commission predicted a decline and recovery of the euro area economy. The economic decline in the euro area in 2020 was 6.5 percent. The Croatian economy recorded a decline of 8 percent last year. The median forecast for GDP growth for the first year is 5.3 percent, while the median expectation for growth in 2022 is 5.5 percent.
The contribution of total exports is projected at rates of 18.2 percent in 2021 and 13 percent in 2022, with significant contributions from the recovery of tourism and the growth of goods exports. This year, according to survey results, chief economists do not expect a decisive impact of EU funds on economic growth, and they are divided on the duration of the additional growth impulse. Regarding inflation, the inflation problem is more pronounced in the US than in the EU. For inflation, which is considered the second most important topic in the economy, it is believed that inflation will remain under control below 2 percent per year, with only the most pessimistic expecting a price increase of 2 percent in 2022.
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