News & Analysis

World Bank encouraged by Croatian fiscal consolidation

Cyril Muller, World Bank vice president for Europe and Central Asia, visited Croatia last week to discuss how the World Bank can further assist the country in increasing its growth potential. Mr Muller met with Prime Minister Andrej Plenković, Deputy Prime Minister and Minister of Agriculture Tomislav Tolušić, Minister of Finance Zdravko Marić, Minister of Regional Development and EU Funds Gabrijela Žalac, Minister of Science and Education Blaženka Divjak and Governor of the Croatian National Bank Boris Vujčić. Mr Muller was joined by Arup Banerji, World Bank regional director for European Union countries, and Elisabetta Capannelli, World Bank country manager for Croatia and Slovenia.

“We are encouraged by Croatia’s continued progress on fiscal consolidation, debt reduction and sustained economic recovery,” said Mr Muller. “With these important building blocks now in place, the forthcoming Country Strategy will support Croatia’s efforts in increasing productivity and competitiveness, deepening technology adoption and innovation, and investing in people while also creating opportunities in the less developed regions of the country.”

Since joining the World Bank Group in 1993, Croatia has benefited from World Bank supported for more than 50 operations amounting to around 3.5 billion US dollars. The bank’s current engagement focuses on transport, health, innovation, business environment, land administration, agriculture, economic development of the Slavonia regions and support for the preparation of the National Development Strategy.