ZAGREB, Oct 15 (Hina) - The Croatian National Bank's (HNB) council held a session on Wednesday, under the chairmanship of Governor Zeljko Rohatinski, to consider the latest economic and monetary trends.
ZAGREB, Oct 15 (Hina) - The Croatian National Bank's (HNB) council
held a session on Wednesday, under the chairmanship of Governor
Zeljko Rohatinski, to consider the latest economic and monetary
trends. #L#
In the first three months of 2003 the Gross Domestic Product rose by
4.9 percent in comparison to the first quarter of 2002, read a press
release issued by the central bank.
GDP increased by five percent in the second quarter of 2003.
The basic characteristics of economic trends in the first half of
this year are strong investment activities and intensified
international trade in goods and services. These facts indicate a
moderate acceleration of economic growth.
The inflation rate remains low with the fundamental inflation rate
of a 0.9 percent at the annual level and a 1.6 percent rise in retail
prices.
In the third quarter of 2003, the exchange rate of the kuna in
relation to the euro was stable and there was no need for the central
bank's intervention in the foreign currency market.
During the second and in the beginning of the third quarter, the
process of granting credits to the non-banking sector was slowing
down. In the first nine months of this year, the offering of credits
rose by 9.9 percent, or twice slower than in the first nine months of
2002, when the rate was 21.6 percent.
(hina) ms sb