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S&P Downgrades Croatia

Published: December 17, 2012; 18:25 · (Vindobona)

Croatia´s Minister of Finance Slavko Linic does not exclude that Croatia needs support from the IMF next year.

S&P Downgrades Croatia / Picture: ©

According to the U.S. rating agency, Croatia´s reform progress is not sufficient. S&P criticizes that Croatia´s labor market conditions are not flexible enough. Croatia´s employment quota is declining steadily for years. Moreover, structural reforms were not implemented the rating agency said and assumed that Croatian interest groups are offering resistance against reforms. As a…

This article includes a total of 270 words.

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