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IMF: Croatia's 2006 growth revised upward to 4.6%

SINGAPORE, Sept 14 (Hina) - The International Monetary Fund has revised upward to 4.6 percent projections about Croatia's economy in 2006, according to the latest IMF report on the global economy.
SINGAPORE, Sept 14 (Hina) - The International Monetary Fund has revised upward to 4.6 percent projections about Croatia's economy in 2006, according to the latest IMF report on the global economy.

In April this year, the IMF forecast that the Croatian economy would grow by 4.1 percent this year.

During its ongoing annual meeting in Singapore, the IMF projected this year's growth rate of the Croatian economy at 4.6 percent.

The forecast for Croatian economic growth in 2007 was also revised slightly upward from 4.5 to 4.7 percent.

2005 saw a Croatian economic growth rate of 4.3 percent, the IMF reported in a World Economic Outlook (WEO), the latest IMF staff's analysis and projections of economic developments at the global level.

The IMF forecasts that Croatia's current account deficit would reach 6.8 percent in 2006 as well as in 2007 as against 6.3 percent in 2005.

The inflation rate in the country was revised upward from 3.2 to 3.5 percent in 2006, and from 2.5 to 2.8 percent next year.

The global economy is expected to rise at a rate of 5.1 percent this year and then drop to 4.9 percent in 2007.

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