July 4, 2018 / 4:52 PM / in 15 days

Croatia cenbank sees growth of 2.8 pct this year and next

ZAGREB, July 4 (Reuters) - Croatia’s central bank said on Wednesday it expected growth to be 2.8 percent both this year and next, a slight downward adjustment from the previous 2018 forecast of 2.9 percent.

“We expect an increase in foreign demand and investments later this year,” the central bank said in a statement after a monthly board meeting.

Last year Croatia’s economy expanded by 2.9 percent.

Economists and businesses warn that Croatia’s economy cannot surpass current growth levels without reforms to improve the investment climate, including tax cuts, reducing red tape and making regulations more predictable.

The central bank also slightly revised upwards its inflation forecast for 2018 to 1.7 percent from 1.6 percent. “We expect a slight slowdown in inflation in 2019,” its statement said.

Reporting by Igor Ilic Editing by Mark Heinrich

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