ZAGREB, April (Hina) - Croatia's deficit in the balance on current account doubled in 2002 in comparison to 2001, amounting to 1.54 billion US dollars, according to provisional figures released by the Croatian National Bank.
ZAGREB, April (Hina) - Croatia's deficit in the balance on current
account doubled in 2002 in comparison to 2001, amounting to 1.54
billion US dollars, according to provisional figures released by
the Croatian National Bank. #L#
Thus, the share of the current account deficit in the Gross Domestic
Product climbed to 6.9 percent last year from a moderate 3.8-
percent in GDP in 2001. This share is the highest in the last five
years, and it was in 1997 when the deficit's portion in GDP reached
the record high 12.5 percent.
Last year's rise in the current account deficit by 113.3 percent
from USD725 million in 2001 to 1.546 billion was a result of the
deteriorated situation in the trade with an accelerated rise in
imports and a moderate increase in exports.
One should, however, stress that in 2002 Croatia registered
favourable macroeconomic indicators. The country experienced a
dynamic economic growth with a record-high 5.2-percent rise in GDP
in real terms which totalled more than USD22.4 billion with
USD5,056 per capita and a low inflation rate of 2.3 percent.
(hina) ms