As I grow older, I often reflect on events from the beginning of my career, which Juvenal would characterize as rare like a “black swan” with consequences from which we have economically and socially recovered for a long time. However, when I look back at the past decade, it is evident that Croatia has gone through the most significant period of economic growth in its history, despite the presence of “black swans.”
We have witnessed, among other things, a constant increase in GDP, driven by the rise of tourism, strong exports, and an increase in foreign investments. Unemployment has fallen to historically low levels, and infrastructure projects such as the Pelješac Bridge have bridged what seemed insurmountable, becoming a symbol of progress. In light of such trends, I conclude that this period is not just a recovery from the global financial crisis, but a true economic renaissance, in which Croatia is positioned as a stable and attractive center with GDP growth that places it at the top of EU member states.
The measures of the Government of the Republic of Croatia have been crucial in fostering this success, as a response to the global crisis, for example, caused by the coronavirus, but also through proactive policies. There was once a prevailing opinion among academic experts that the trajectory of tax rates was only upward. However, under this Government, we have experienced several rounds of tax relief for citizens with a positive effect on their purchasing power, either directly or indirectly.
All of this has contributed to the fact that today Croatians are wealthier, and thus to a positive climate in our society. Credit institutions have also contributed to economic growth as a financial backbone for companies and households. HPB has undergone a transformation in the last five years from a smaller bank to a serious market challenger and a leader of change. I am proud to say that this change is recognized in the exceptional success of two products that we recently launched first in the market.
