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Republic Of Croatia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Croatia
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Book Synopsis Republic of Croatia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Croatia by : International Monetary
Download or read book Republic of Croatia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Croatia written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-10 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: As other emerging economies reliant on tourism (about 25 percent total contribution of tourism-related industries in GDP and employment), Croatia has been hit hard by the pandemic and two devastating earthquakes, leading the economy to contract by 8.0 percent in 2020. Vaccinations have been rolled out to about 38 percent of the population (end-June 2021). Staff projects growth to bounce back to 5.4 percent in 2021, driven by a rebound in the services sector and investment, aided by fiscal and monetary policies, and bolstered by large EU grants over the medium-term.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :78 pages Book Rating :4.4/5 (2 download)
Book Synopsis Republic of Croatia by : International Monetary Fund. European Dept.
Download or read book Republic of Croatia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-06-29 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: On January 1, 2023, Croatia became the 20th member of the eurozone. The country posted another strong growth year in 2022, among the highest in the eurozone. But the momentum started to slow in H2, while inflation rose to a multi-decade high, reflecting indirect impacts from Russia’s war in Ukraine. Staff expects growth to moderate to 2.4 percent in 2023 and recover to its potential over the medium term. Inflation is projected to average 71⁄2 percent in 2023 and gradually fall towards the 2 percent target. The outlook is subject to considerable uncertainty. Risks to growth are broadly balanced and risks to inflation are tilted to the upside.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :74 pages Book Rating :4.4/5 (2 download)
Book Synopsis Republic of Croatia by : International Monetary Fund. European Dept.
Download or read book Republic of Croatia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2024-07-29 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Croatia is the newest euro area (EA) member. Following a very strong recovery in 2021–22, growth moderated to 3.1 percent in 2023, still among the highest in the EA. Inflation has decelerated considerably since early 2023 but remains above the EA average, while the labor market remains tight. Growth is expected to stay robust in 2024–25, led by strengthening household real incomes and investment supported by EU funds. Inflation is expected to gradually approach 2 percent in late 2025. Risks to the outlook are broadly balanced. Subdued productivity and labor shortages are the main obstacles to potential growth.
Book Synopsis Republic of San Marino: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino by : International Monetary
Download or read book Republic of San Marino: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of San Marino written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-23 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: San Marino entered the pandemic with substantial vulnerabilities and still struggling from the consequences of the Global Financial Crisis (GFC). However, the economy has shown significant resilience supported by a timely and targeted policy response. Fiscal support was substantially scaled up after external borrowing was secured, including through a debut Eurobond. The banking system was rationalized, partly capitalized, its liquidity substantially improved, and a strategy is being adopted to address exceptionally high nonperforming loans (NPLs). Some of these measures, while effective, have increased official public debt substantially.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 :1484398645 Total Pages :69 pages Book Rating :4.4/5 (843 download)
Book Synopsis Republic of Croatia by : International Monetary Fund. European Dept.
Download or read book Republic of Croatia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2019-02-12 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article IV Consultation highlights that the economic expansion continues, driven primarily by private consumption and exports of goods and services. Discussions primarily focused on increasing the economy’s flexibility and resilience. Fiscal performance has been strong, however, the materialization of contingent liabilities from government guarantees is likely to reduce the overall surplus. Low public and private investment, and continued emigration appear to weigh on medium-term growth prospects. Downside risks in the near-term stem could be due to possible changes in regional or global economic and financial conditions, and the further realization of contingent liabilities. The IMF staff advocated for a moderately faster fiscal adjustment. The report recommends accelerating the pace of debt reduction that would build fiscal space and help reduce downside risks. The Central Bank may need to address potentially tighter external conditions while continuing with strong bank supervision and macroprudential policies. Additional measures to prevent excessive household borrowing could be considered if needed.
Book Synopsis Republic of Croatia by : Adam Bennett
Download or read book Republic of Croatia written by Adam Bennett and published by . This book was released on 2010 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand by : International Monetary
Download or read book Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-03 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.
Book Synopsis Republic of Serbia: 2021 Article IV Consultation and Request for a 30-Month Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Republic of Serbia by : International Monetary
Download or read book Republic of Serbia: 2021 Article IV Consultation and Request for a 30-Month Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Republic of Serbia written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-21 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent economic developments. Supported by a large policy package, Serbia’s economy rebounded quickly from the initial COVID-19 shock, recording a 1 percent contraction of real GDP in 2020. Job losses have mostly been contained to the informal sector, thanks to policy measures aimed at preserving formal employment. A supplementary budget for 2021 was adopted in April boosting capital expenditure and extending policy support to households and corporates, against the background of third and fourth waves of infections and related containment measures, as well as a weaker-than-expected economic recovery in key trading partners. Inflation remains low. After rising again in late February, infections tapered, helped by new containment measures and the rapid vaccine rollout.
Book Synopsis Peru: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru by : International Monetary
Download or read book Peru: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru written by International Monetary and published by International Monetary Fund. This book was released on 2022-05-11 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: After being hit very hard by the pandemic in 2020, both in terms of health and economic outcomes, Peru experienced an equally strong economic rebound in 2021. A new administration was inaugurated in July 2021 with a program focused on reducing inequality and improving social conditions, but limited support from Congress and lack of cohesion heightened political uncertainty. While real GDP surpassed its pre-pandemic level by 2021, labor force participation and total employment have not fully recovered yet. Poverty increased significantly in 2020 and, despite some improvement in 2021, remains higher than in 2019. On May 27, 2021, the IMF Executive Board completed the mid-term review of Peru’s continued qualification under the Flexible Credit Line (FCL) arrangement.
Book Synopsis Republic of Croatia, Staff Report for the ... Article IV Consultation by :
Download or read book Republic of Croatia, Staff Report for the ... Article IV Consultation written by and published by . This book was released on 2009 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Croatia written by and published by . This book was released on 2015 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Removing structural obstacles to growth. After six years of persistent contraction, Croatia's economy is showing signs of a tentative recovery, supported by a favorable environment---the last economy in emerging Europe to exit the post-Lehman recession of 2008/09. Deep-seated structural factors have impeded the economy's capacity to adjust, many of them relating to incomplete transition of Croatia's corporate sector toward market orientation. While the authorities have made progress with some structural reforms in previous years, others remain incomplete---notably reform of the bloated, inefficient state- owned enterprise sector and of Croatia's opaque governance system, characterized by much overlap between different layers of government. Unless addressed, these factors are bound to weigh on activity going forward. Restoring Fiscal Sustainability. Large fiscal vulnerabilities have built up in the wake of the recession. In the face of high fiscal deficits and public debt, policy has started to move in the right direction under the auspices of the European Commission's Excessive Deficit Procedure. However, it requires more of a long-term orientation: a comprehensive consolidation plan should aim not only at reducing the deficit, but also at restructuring the budget to render it more growth and employment friendly. Safeguarding Monetary and Financial Stability. The kuna-euro exchange rate anchor remains without viable alternative for the time being, given the high degree of loan euroization. The banking system has remained resilient despite the drawn-out recession. Continued supervisory vigilance is needed to preserve this record. Previous Staff Advice. No major additional progress has been made on structural reforms since the 2014 Article IV consultation. Fiscal consolidation has advanced gradually, although efforts to reduce the headline deficit have been frustrated by revenue underperformance in a deflationary environment.
Book Synopsis Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia by : International Monetary
Download or read book Malaysia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-28 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Malaysia’s economy is showing signs of a gradual yet steady recovery thanks to the authorities’ impressive vaccine rollout, swift and coordinated implementation of multi-pronged support measures. The recovery nevertheless remains uneven and the output gap sizeable, with significant downside risks. Going forward, the authorities should calibrate macroeconomic policies to the pace of the recovery, while preserving policy space given pandemic-related uncertainties, and simultaneously accelerate structural reforms.
Book Synopsis Republic of Croatia by : Poul M. Thomsen
Download or read book Republic of Croatia written by Poul M. Thomsen and published by . This book was released on 2009 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Republic of Croatia, Request for Stand-by Arrangement by :
Download or read book Republic of Croatia, Request for Stand-by Arrangement written by and published by . This book was released on 2003 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Republic of Croatia by : International Monetary Fund
Download or read book Republic of Croatia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-07-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, the economic stability of Croatia is overviewed after the global crisis. The reforms outlined in the government’s economic recovery program (ERP) are in progress. Judicial reforms are instituted to strengthen bankruptcy procedures for companies. To improve the medium-term growth prospects of the economy, there is a need to tackle the structural rigidities. Executive Directors agreed that monetary policy should aim at gradually building up reserves in order to increase Croatia’s resilience to external vulnerabilities, while exercising caution toward shifts
Book Synopsis Republic of Croatia by : International Monetary Fund
Download or read book Republic of Croatia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-10-06 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report provides the third Review of the Republic of Croatia Under the Stand-By Arrangement (SBA). Policies under the SBA have sought to reduce Croatia’s savings-investment imbalance and stabilize the external debt-to-GDP ratio. Executive Directors agreed that the main success of the program has been a fundamental improvement of Croatia’s public finances. Executive Directors emphasized the need for fiscal actions to mitigate domestic demand pressures, tightening of prudential regulations to safeguard financial stability in the face of accelerating credit growth, and steps to restore the momentum of privatization.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :90 pages Book Rating :4.4/5 (2 download)
Book Synopsis Israel by : International Monetary Fund. European Dept.
Download or read book Israel written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-06-15 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a remarkable recovery from the pandemic anchored in strong fundamentals, the outlook is for growth to slow broadly in line with potential, as inflation falls within the targeted range by end-2024. However, the risk balance is tilted to the downside, reflecting, among other things, external risks and the continued uncertainty around the proposed judicial reform.
