Croatia’s economy growth rate is good, but we must aim higher to create new jobs and achieve a higher standard, Finance Minister Zdravko Maric said on Wednesday.

Croatian state statistics bureau reported earlier today that Croatia’s economy grew by 2.5 percent in the first three months of 2018 compared to Q1 2017. The report exceeded analysts’ expectations by 0.2 percent, and the largest single contribution to growth came from increased household spending.

This is the 15th consecutive quarter in which growth is marked.

“We can characterise these growth rates as good after a long period of recession, but Croatia must aim for higher growth rates which will result in a higher standard that we all not just expect, but also deserve,” Maric said to the press in the parliament.

Once again we see that domestic demand is the main cause of economic growth, he said.

“The positive effects of the tax reform and consumers’ trust are still visible,” he added.

Investments are growing as well, for the 11th consecutive quarter, he said. Gross investments in fixed capital went up in Q1 2018 by 3.6 percent year-on-year, significantly accelerating compared to the last quarter when they went up by 1.9 percent.

“I still think there is a lot of room for the investments to go up, especially in the public sector,” Maric said, adding it was possible to achieve growth by making better use of EU funds, as well as through more investments by state institutions.

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