In the spring economic forecasts on Wednesday, the European Commission slightly reduced the growth estimate of the Croatian economy for this year to 5 percent, but also significantly increased the estimate for next year, to 6.1 percent, when Croatia's GDP will exceed pre-crisis levels caused by the coronavirus pandemic.

According to the spring economic forecast for 2021, the EU economy will grow by 4.2% in 2021 and 4.4% in 2022, while in the euro area these figures will be 4.3% and 4.4%, respectively. This is a significant improvement in the growth outlook compared to those presented by the Commission in its February 2021 winter economic forecast. Although growth rates will continue to progress at different rates across the EU, the economies of all Member States should return by the end of 2022. to pre-crisis levels.

The Croatian economy fell by eight percent last year, and this year the EC expects it to grow by 5 percent and 6.1 percent next year.

In winter forecasts released on February 11th, the Commission forecast 5.3 percent growth for the Croatian economy this year and 4.6 percent next.

The Commission points out that these assessments are exposed to great risks on both the positive and negative sides.

Negative risks depend on the extent to which the pandemic in Croatia and in key emitting tourist markets will be curbed in time for the tourist season, while weak administrative capacity poses a risk for a rapid withdrawal of European funds.

On the other hand, the EC cites stronger growth in exports of goods and a faster recovery of the service sector as key positive risks to the security of these assessments.