Croatia: No End of Recession in Sight

Politics ♦ Published: September 19, 2013; 09:07 ♦ (Vindobona)

For the seventh quarter in a row, Croatia´s GDP was down. The main problem is the weakening domestic consumption and the high unemployment quota.

Croatia: No End of Recession in Sight / Picture: ©

Compared to the second quarter of 2012, Croatia´s GDP declined 0.7%. Besides the shrinking domestic consumption, the decrease in foreign direct investments the driving force of the recession. Since 2008, Croatia´s GDP fell by more than 10%. In the same period, foreign direct investments fell by 80%. This year, Croatia will not be able to leave the recession behind. According to…