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Croatia had another successful year in macroeconomic terms, despite a number of challenges along the way. The domestic economy continued to grow propped up by expanding personal consumption and favourable exports performance. Positive trends also continued in the labour market, with declining unemployment, while inflation returned to positive territory. The current account remained in surplus, supported by growing exports, while external vulnerability indicators have continued improving. Fiscal policy commitment to a balanced budget ensured the continued decrease in public debt. Expansionary monetary policy supported economic recovery and improvement in financing conditions – interest rates fell and lending recovered.

By Gent Sejko, Governor, Bank of Albania

By György Matolcsy, Governor, Magyar Nemzeti Bank

By Már Guðmundsson, Governor, Central Bank of Iceland

By Hedva Ber, Supervisor of Banks, Bank of Israel

By Philip R Lane, Governor, Central Bank of Ireland

Samuel Yim and Joon Young Kim, Kim & Chang

By Marwan Mikhael, Head of Research, BLOMINVEST Bank

By Pedro Cortés, senior partner, and Helena da Nazaré Valente, senior associate, Rato Ling Lei & Cortés Advogados

By Ibrahim Sattout, partner, and Brenda Ntambirweki, associate, ASAR – Al Ruwayeh & Partners