Croatian economy's results bear testimony to the continuation of positive economic trends, but they are not sufficient for the country to reach the development level of old EU member-states - structural reforms are necessary to step up the process of convergence, central bank governor, Boris Vujcic, said at a conference in Opatija on Thursday.

Achieving higher growth rates to step up the convergence process requires structural reforms, as evidenced by international management quality and business environment indicators, Vujcic said, adding that there was room for improving the implementation of specific European Commission recommendations by implementing the national reform programme.

Vujcic believes that the business climate in the country is still not good enough and that there is a lot of room for the improvement of the quality of institutions and the general business environment.

Speaking of ways to expedite the process of real convergence, Vujcic said that investment was key to productivity growth.