Search results for

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 György Matolcsy, Governor, Magyar Nemzeti Bank

By Philip R Lane, Governor, Central Bank of Ireland

By Marwan Mikhael, Head of Research, BLOMINVEST Bank

By Eileen Toledano, head of financial services, and Dan Gan-Zvi, banking thought leadership manager, KPMG Somekh-Chaikin

The global recession is finally being superseded by an economic upswing. To reap the full benefits of the upswing and to sustain it, we must allow continued global integration and trade. Globalization is beneficial for all our economies. It lowers prices and increases choices of products available. It brings us better technology allowing us to produce new and improved goods and services. Most importantly, it leads to a more efficient division of labour and higher productivity.

By Már Guðmundsson, Governor, Central Bank of Iceland

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

We have set out three conditions that must be in place for our net asset purchases to end. We need to see the convergence of inflation towards our aim over the medium term; we need to have sufficient confidence that this convergence will be realised; and the inflation path needs to show resilience and be self-sustaining without additional net purchases.

By Gent Sejko, Governor, Bank of Albania