Compared to last spring's outlook, the IMF increased its forecast of Croatia's GDP decline from 0.6 to 0.8% as well as the forecast of GDP growth in 2015, from 0.4 to 0.5%.
The IMF Executive Committee increased its forecast of Croatia's GDP decline to 0.8% in late May already after consultations with Croatia on Article IV of the IMF Statute.
In the latest outlook, the IMF predicts that consumer prices will decrease 0.3% this year and that in 2015 inflation could be 0.2%. The unemployment rate, after last year's 16.6%, could reach 16.8% this year and 17.1% in 2015.
This year and in 2015 the balance of payments is estimated to show a GDP surplus of 2.2%.