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Finance ministry projects GDP growth rate in 2005 at four percent

Autor: ;rmli;
ZAGREB, Dec 29 (Hina) - Following reports that Croatia's GDP in thethird quarter of this year went up by 5.2 percent, the FinanceMinistry on Thursday issued a statement projecting this year's GDPgrowth at around four percent.
ZAGREB, Dec 29 (Hina) - Following reports that Croatia's GDP in the third quarter of this year went up by 5.2 percent, the Finance Ministry on Thursday issued a statement projecting this year's GDP growth at around four percent.

Following a real inter-annual GDP growth rate of 5.1 percent in the second quarter, in the third quarter GDP saw a growth rate of 5.2 percent, the highest rate since the end of 2002.

In the first nine months GDP rose by 4.1 percent from 3.5 percent in the first half of the year.

Investments saw the highest inter-annual real growth rate, going up by 5.8 percent in the third quarter.

Personal consumption went up by 3.8 percent, government spending by one percent, the export of goods and services by 4.9 percent, and the import of goods and services went up by 2.3 percent.

The export of goods and services contributed the most to the growth of GDP - 3.3 percent. Personal consumption contributed to the GDP growth with two percent, government spending with 0.2 percent, and gross investments with 1.5 percent.

Imports of goods and services contributed negatively to the GDP growth with 1.3 percent, but a two percent increase in exports of goods and services had a positive effect on GDP growth.

The highest real growth of added value in the third quarter was reported in the sector of financial transactions (7.8 percent), hotel and restaurant industry (7.6 percent), commerce (6.1 percent), industry (6 percent), transport (5.6 percent) and the construction industry (3.4 percent).

Indicators in the real sector show the continuation of positive developments in the last quarter of this year, the ministry said.

Following a 7.1 percent increase in October, industrial production continued growing in November at a rate of 6.3 percent. Retail sales in October went up by 1.7 percent in real terms in relation to the same month of 2004.

(Hina) rml

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