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Croatia Faces Stagnation

Published: January 5, 2013; 00:11 · (Vindobona)

Last year, Croatia´s economy shrank substantially. In 2013, the country will recover, economists say.

Croatia Faces Stagnation / Picture: © Flickr

After a series of downgrades by the rating agencies, Croatia´s government does not exclude financial aids from IMF anymore. In December, S&P has downgraded Croatia´s sovereign debt rating. Now, Croatian sovereign bonds only have “junk status”. As the debt service costs have grown drastically, the government fears that the austerity measures are not sufficient anymore.…

This article includes a total of 254 words.

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