August 30, 2017 / 9:25 AM / 10 months ago

UPDATE 1-Croatia's economy grows 2.8 pct yr/yr in Q2 -statistics bureau

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ZAGREB, Aug 30 (Reuters) - Croatia’s gross domestic product grew 2.8 percent year on year in the second quarter, the state statistics bureau said in a flash estimate on Wednesday.

Local analysts had on average expected growth of 3.0 percent.

In the first quarter Croatia’s economy expanded 2.5 percent.

The statistics bureau also said that seasonally adjusted second quarter growth compared to the first quarter amounted to 0.8 percent.

The government expects growth for the whole year at 3.2 percent, while the central bank is a bit less optimistic with a forecast of 3.0 percent.

The strongest contribution to Croatia’s growth this year is expected in the third quarter due to another strong summer tourist season, while the dowsnide risk largely relates to the financial corporate crisis that hit the largest Croatia’s private firm Agrokor

Reporting by Igor Ilic; editing by Richard Balmforth

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