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IMF Expect Croatia To Fall Deeper

The International Monetary Fund (IMF) has slashed its earlier forecasts for global economic growth for the second time since April, warning American and European officials that a failure to resolve their economic problems could prolong the economic downturn. The IMF has also revised its estimate for the Croatian economy.

According to forecasts published this morning and reported by Croatian radiotelevision, the IMF says that the Croatian economy is expected to decrease by 1.1 percent this year, dropping its April estimate, when it predicted a 0.5 percent decrease.

The IMF though has not revised next year’s forecast, it expects growth in Croatia next year from 1.0 percent, the same as it estimated in April 2012.

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