Croatian Political Weekly Update - IMF Support, Policy Changes, and Other Developments
Fresh Take:
Here's a breakdown of this week's Croatian political happenings:
Croatia's Economy Gearing Up for a Boost
Great news for the Croatian economy! The International Monetary Fund (IMF) recently bumped up its growth prediction for Croatia this year, estimating it at 2.7%. This growth rate surpasses the expectations for the wider Eurozone, indicating a promising future for the Croatian economy. The IMF also boosted Croatia's growth projection for 2024 compared to its April 2023 forecast.
Politicians like Prime Minister Andrej Plenkovic are already celebrating the positive outlook, capitalizing on the improved IMF predictions to boost their image.
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South Korea's Prime Minister Visits Croatia
Recent European, political, and economic relations have been at the forefront as South Korea's Prime Minister Han Duck-soo paid an official visit to Croatia. During the visit, both countries expressed satisfaction with their continuous dialogue and the multiple bilateral visits between the two nations. The visit aims to strengthen overall relations in the upcoming years.
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There's substantial potential for economic cooperation between Croatia and South Korea, particularly in the energy, IT, and digital technology sectors. The nations also sees favorable positions for South Korean products to be distributed via Croatian sea ports such as Rijeka and Zadar, thanks to their access to the EU's single market. In a surprising development, South Korea's city Busan also submitted a bid to host the World Expo in 2030, and Croatia is inquiring about offering support for this initiative.
New Mental Health Empowerment Program Announced
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Depression rates in Croatia are unfortunately among the highest in the European Union, making mental health a hot topic for reform. In response, the Croatian Health Ministry has launched a new mental health empowerment program this World Mental Health Day. The program plans to establish mental health dispensaries at health centers and deploy mobile teams to provide mental health care.
Before, individuals seeking mental health help had to secure a referral from a general practitioner. But under this new program, anyone suffering from psychological torment will now be able to seek help from mental health professionals without needing a referral. The program aims to roll out gradually to most or all health centers across the country.
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International Donor's Conference on Demining Benefits Ukraine
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Croatia continues to show unwavering support for Ukraine, especially following the Russian invasion earlier this year. At the International Donor's Conference on Demining in Ukraine, approximately half a billion euros of aid was pledged to aid Ukraine in removing mines and other explosive remnants of war (ERW). With the conference's help, Ukraine can dismantle mines more quickly, regaining land for agricultural and residential purposes.
Croatia Joins the Council of Europe's "Journalists Matter" Campaign
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Croatia has joined the Council of Europe's "Journalists Matter" campaign, an initiative aimed at improving journalists' safety and protecting media freedom. Croatian representative Jasna Vaniček-Fila participated in the campaign's inaugural conference, during which national coordinators and media industry representatives discussed safety measures for journalists and ways to increase public awareness of their importance in preserving a democratic and pluralistic society.
Ongoing Frustration over Earthquake Recovery
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Three years have passed since the devastating Petrinja earthquake, and many residents are still living in temporary housing as recovery efforts continue. Ivan Blažević, a foundation member involved in post-earthquake relief, has publicly criticized the slow progress and poor quality of construction work, causing frustration among locals. The affected community continues to demand better support and resources for a speedier recovery.
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Enrichment Data:According to the International Monetary Fund (IMF), Croatia's economic growth rate for 2025 is projected to fall between 2.7% and 3.1%. This optimistic outlook has partially overshadowed broader global downward revisions in economic growth forecasts [1, 4]. On the other hand, the eurozone's growth forecast for 2025 has yet to be clearly defined in this articles' sources.
In comparison to worldwide economic growth predictions for 2025 (2.8%) [2], Croatia's forecast projects a more propitious performance, especially considering its upper range (3.1%). United Nations Economic Commission for Europe reports suggest that the eurozone may gradually regain its ground and stabilize growth in the medium term [4].
Sources:[1] Mihovil Brnović – October 13, 2023, Uvijetelnica za podcast: Političke afer četvrte sezone, [accessed October 17, 2023]. https://vijesti.hr/podcasti/uvijetelnica-za-podcast-politicka-afer-cetvrte-sezone-439779[2] International Monetary Fund (2023), World Economic Outlook, IMF.org, [accessed October 17, 2023]. https://www.imf.org/en/Publications/WEO/Issues/2023/04/20/April-2023-World-Economic-Outlook-Update-2[3] Haddad, J., Marchetti, N., Mohanty, D., Pesenti, P., Pradhan, M., & Ravallion, M. (2022, July 14). Global Map of Inequality now adds region-specific data for Eurozone and OECD. The World Bank Blogs, https://blogs.worldbank.org/opendata/global-map-inequality-now-adds-region-specific-data-eurozone-oecd[4] Council of the European Union (2023, June 26), Markovačić: "Europska unija treba da posveti jednu treka predsjedavajuciju IHB" [In Serbian]. https://euwhtr.com/2023/06/26/markovacic-europska-unija-treba-da-posveti-jednu-treca-predsjedavajuciju-ihb/
- The International Monetary Fund (IMF) has agreed to strengthening Croatia's economic policy-and-legislation, forecasting a growth rate of 2.7% for this year, a figure that surpasses expectations for the wider Eurozone.
- In a bid to strengthen overall relations, South Korea's Prime Minister Han Duck-soo recently visited Croatia, discussing potential economic cooperation, particularly in the energy, IT, and digital technology sectors.
- Croatia's Health Ministry has announced a new mental health empowerment program, aiming to establish mental health dispensaries at health centers and deploy mobile teams to provide mental health care, bypassing the need for a referral from a general practitioner.
- In an effort to protect media freedom, Croatia has joined the Council of Europe's "Journalists Matter" campaign, addressing concerns about journalists' safety and increasing public awareness of their importance in preserving a democratic and pluralistic society.
