On Thursday, July 14, 2022, the Standard & Poor’s agency increased Croatia’s long-term and short-term ratings to ‘BBB+/A-2’, with a stable outlook. After the EU Council officially confirmed Croatia’s entry into the euro zone from the beginning of next year, after Fitch Ratings, S&P is already the second agency to increase Croatia’s rating.
On Wednesday, July 13, 2022, Fitch Ratings in an extraordinary assessment raised Croatia’s credit rating by one level, to “BBB+”, with a stable outlook. An important argument for raising the rating is the completion of Croatia’s admission to the euro area. The regular review of the rating is, by the way, scheduled for November 28. The confirmation of Croatia’s entry into the euro area was assessed as a situation of […]
CALL FOR PROJECT PROPOSALS WITHIN THE NATIONAL RECOVERY AND RESILIENCE PLAN 2021-2026. Ministry of Economy and Sustainable Development through the National Recovery and Resilience Program 2021-2026. announces the Call for submission of project proposals “Support to companies for the transition to an energy- and resource-efficient economy (Reference number: NPOO.C1.1.1.R4-I1.01) which will support faster adaptation of the economy to current and future environmental requirements and influence the reduction of negative effects […]
Today, the Ministry of Economy and Sustainable Development announced the call “Grants for digitalization” intended for micro, small and medium-sized enterprises. The call provides funds for the introduction of digital solutions in business through investments in digital tools and equipment for the introduction of a new way of doing business, or new or significantly improved production procedures, delivery of services or organizational practices, and strengthening digital skills. A total of […]
Lausanne, Switzerland, June 15, 2022 – In this year’s report of the IMD World Competitiveness Center, Croatia ranked 46th out of 63 world economies, which is an increase of 13 places compared to last year (the highest growth of all countries measured). The Swiss Institute for Management Development (IMD) Competitiveness Ranking measures how well countries manage their resources and competencies to enable the long-term creation of new values. The IMD […]
New Act on Investment Promotion (OG 63/22) amending former Act on Investment Promotion has: – lowered the criterion of the registered unemployment rate as a precondition for the use of non-refundable financial support for eligible costs of job creation and capital costs of the investment project; – in the context of job creation and mitigation of the negative economic consequences of the COVID-19 pandemic, enabled investment aid beneficiaries to apply […]
On 1st of June 2022, the European Commission assessed in its 2022 Convergence Report that Croatia fulfils all the criteria for joining the euro area and proposed to the Council that Croatia adopt the euro on 1st of January 2023. The Council will make the final decision on the adoption of the euro in Croatia in the first half of July this year, following the necessary procedures and discussions in […]
On Friday, May the 6th 2022, Fitch Ratings has affirmed Croatia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’ with a Positive Outlook. According to Fitch, Croatia’s ratings are supported by strong structural features, including higher human development and governance indicators than peers, anchored by membership of the EU, and GDP per capita that is around 40% higher than the ‘BBB’ median, while the Positive Outlook reflects their expectation that […]
The Ministry of Economy and Sustainable Development through the National Recovery and Resilience Program 2021-2026 today, April 1, 2022, announced two calls for project proposals: 1) “Commercialization of innovations” 2) “Grants for start-ups” The aim of the call “Commercialization of innovations” is to encourage investments necessary for the commercialization of innovation and research and development results. Innovative projects with the highest probability of commercial success will be encouraged, which will […]
S&P expects that Croatia’s economy will expand by 2.5% in real terms in 2022, supported by recovery in the tourism sector and a pick-up in investments. It also highlights that in their view eurozone accession, targeted for 2023, would reduce foreign exchange risks and improve Croatia’s monetary flexibility. Among other things, the agency affirmed Croatia’s stable outlook, assessing that Croatia’s economy is supposed to grow at a stable pace in […]
