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Croatia: Crisis Sharpens

Published: August 7, 2012; 16:07 · (Vindobona)

The Croatian recession seems to continue. Consumption falls further, unemployment continues to rise.

Croatia: Crisis Sharpens / Picture: © Flickr

In June, consumption fell by 5.1%, the Croatia Statistical Office announced. This is mainly due to declining public revenues and a rising unemployment.

According tot he economist Zeljko Lovrincevic, the government has implemented wrong concepts against the crisis. The VAT was increased, taxes on water and energy were up. Lovrincevic: „Croatia does not only face a recession, but…

This article includes a total of 215 words.

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