Prime Minister Andrej Plenkovic said on Friday the 15.8% GDP growth in Q3 testifies to the fast and strong recovery of the Croatian economy from the COVID crisis.

“This growth means that this is by far the fastest GDP growth rate in the third quarter among the 21 EU member states for which we have the data. The growth in Croatia is three times the European Union member states’ average,” Plenkovic said.

“In the first nine months, we had a 10.7% GDP growth. We have the highest growth ever in Croatia’s history. This shows a really fast, strong and extremely good, comprehensive recovery of the Croatian economy,” he added.

The growth is the result of the government’s job-keeping policy and “wise management” of the crisis in all its aspects as well as of the contributions of the economy, tourism and citizens, Plenkovic said.

Household consumption sees record high growth since 1996

Speaking of GDP components and their impact on the growth, he highlighted the growth of the export of services, i.e. tourism, and household consumption, which saw the highest growth since 1996.

He said the government would do its best for the 2021 GDP to go up at least 9%.

“All in all, we’re on the right track,” Plenkovic said, adding that the Croatian economy had recovered “in a flash” and that it would be among the three fastest growing economies in the EU this year.

He recalled that the government would spare no effort to make sure that this year’s growth reaches at least nine percent.