Tour of the CEE countries #3: CROATIA

Quick overview of the CEE countries’ COVID-19 situation, a few words about the economy and hot topics in a regular series of news presented by our experts from 7 Franco-bilateral Chambers of Commerce and Industry from the Central and Eastern Europe region: Croatia, Czechia, Hungary, Poland, Romania, Serbia and Slovakia.

By clicking on each country a text on the respective market will open. 



CROATIA

About the COVID-19 situation…


In this worst yet wave of pandemics, we are witnessing a greater interest in vaccination and the authorities' efforts to maintain a "normal" situation without introducing radical and extremely restrictive measures. The use of EU Covid-pass becomes obligatory in Croatia for entering all public services premises and higher education facilities. The polemics of an even wider use are in progress which provokes quite a few negative reactions from the public and there have been protests organized.

Public gatherings/events remain restricted and with obligatory Covid-pass for attendees, the maximum number of persons being 50 for indoor gatherings and 100 for outdoor. Of course, other restrictive measures must also be respected (distancing, masks, aeration, etc.). For larger events, a special permission by the authorities must be issued.

Holders of EUDCC can enter Croatia without being subject to further restrictions (testing or quarantine), as for third-country nationals, the entry into the country is allowed only in case of necessary travel. Exceptions and more details on https://reopen.europa.eu/en/ .




… a few words about the economy in the last quarter…


After a better-than-expected tourist season in Croatia, the economic situation continues the growth trend and the projections for 2021 are very positive: the real growth is at 8,1% while maintaining the relatively low inflation rate: 2,2% (5,6% and 2% in 2022, respectively).

The economic activities are at a full swing, certainly encouraged by the EU-funds envelope of 24 bn EUR, a part of which was already transferred to Croatia.

Another positive fact is Croatia's soon-to-be entry into the Eurozone (projected for January 2023) which will certainly ease the transactions and reassure foreign investments even more.



…and some more good news


Fitch Ratings has upgraded Croatia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BBB' from 'BBB-, with a positive outlook. This grade represents an all-time-high for the country.

The aftermath of the two-day state visit by the French president Emmanuel Macron to Zagreb confirms the recent excellent relations between the two countries; a Strategic partnership document was acted, not to mention the Croatian acquisition of Rafale military jets for 1 bn EUR. Big contracts are always followed by smaller businesses, it is to be expected that this will be a boost for the bilateral trade.




Save the date for the first edition of the "Tour" in 2022 and start the year well informed!



If you missed the last two editions of the "Tour", do visit our YouTube channel for recordings of the sessions:

July - https://youtu.be/TJlzKOmnCTQ (in French)

October - https://youtu.be/Cyrou52sMpY (in English)