The Economics Institute will soon revise its GDP growth projection this year, from a negative 0.7 percent to a negative 1 percent,
head of the Institute Sandra Svaljek said at a press conference on Thursday.
A high GDP contraction in Q1 (2.5 percent) and negative economic outlook in Q2 indicate this year will be much harder than expected, Svaljek added. She believes the situation will pick up by the end of the year, but this will not be reflected positively on economic activity yet. The Institute predicts a 2.2-percent growth only in 2011.
At TEB’s conference called “Waiting for the Recovery” it was discussed how the Government’s economic recovery program could help stop the negative trends and provide for a long-term growth. President Josipovic’s economic advisor Boris Cota called for a political consensus on the program, while economist Ljubo Jurcic criticized the program for lack of measures for increasing production.
Source: Poslovni.hr - 18/06/2010
A high GDP contraction in Q1 (2.5 percent) and negative economic outlook in Q2 indicate this year will be much harder than expected, Svaljek added. She believes the situation will pick up by the end of the year, but this will not be reflected positively on economic activity yet. The Institute predicts a 2.2-percent growth only in 2011.
At TEB’s conference called “Waiting for the Recovery” it was discussed how the Government’s economic recovery program could help stop the negative trends and provide for a long-term growth. President Josipovic’s economic advisor Boris Cota called for a political consensus on the program, while economist Ljubo Jurcic criticized the program for lack of measures for increasing production.
Source: Poslovni.hr - 18/06/2010
