Publication:
Country Partnership Framework for Croatia for the Period FY25-FY30

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dc.contributor.authorWorld Bank
dc.contributor.authorInternational Finance Corporation
dc.contributor.authorMultilateral Investment Guarantee Agency
dc.date.accessioned2025-06-18T16:11:53Z
dc.date.available2025-06-18T16:11:53Z
dc.date.issued2025-06-18
dc.description.abstractOver the past decade, Croatia has demonstrated significant progress in economic development and improvement in living standards for its citizens. Economic performance during this period, including the country’s strong recovery following its pandemic-induced recession, was underpinned by sound economic management and notable reforms. Growth benefited significantly from the tourism sector rebound, which accounted for 19 percent of gross domestic product (GDP) in 2024. In addition, significant inflows of European Union (EU) funds during 2020-24, cumulatively totaling around 19 percent of 2023 GDP, helped boost public investment and economic growth. Croatia’s growth has contributed to substantial progress in living standards, with GDP per capita in purchasing power parity (PPP) terms increasing from 60.7 percent of the average EU27 level in 2015 to 76.8 percent in 2024. However, in order to sustain strong growth and progress on shared prosperity and poverty reduction, Croatia needs to tackle several fundamental challenges. First, Croatia needs to increase the overall productivity of its economy by boosting private sector investment, promoting diversification of the economy toward higher value-added sectors, and addressing remaining business environment challenges that reduce dynamism in the market. Second, Croatia needs to contend with demographic challenges that are contributing to shortages of labor with the skills required to sustain growth. Third, as a country with rich environmental endowments that also underpin its large tourism sector, Croatia needs to decouple its growth from environmental pressures associated with water use and air pollution and manage its significant exposure to extreme weather risks. This will require better management of natural resources, reducing pollution, and mitigating environmental and climate risks. Croatia also needs to increase energy efficiency and expand renewable energy sources to reduce risks associated with global energy price volatility and improve economic performance in key sectors. Finally, despite recent progress, further strengthening of institutions is needed to sustain economic and social development and enable Croatia to tackle its development challenges effectively. The FY25-FY30 CPF will have a strong knowledge focus and will further strengthen Croatia’s contribution to the global development agenda.en
dc.identifierhttp://documents.worldbank.org/curated/en/099041825095038960
dc.identifier.doihttps://doi.org/10.1596/43350
dc.identifier.urihttps://hdl.handle.net/10986/43350
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectPARTNERSHIP FOR THE GOALS
dc.subjectWORLD BANK GROUP OPERATIONS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectLIVING STANDARDS IMPROVEMENT
dc.subjectENVIRONMENTAL SUSTAINABILITY
dc.titleCountry Partnership Framework for Croatia for the Period FY25-FY30en
dc.typeCountry Partnership Framework
dspace.entity.typePublication
okr.date.disclosure2025-06-18
okr.date.doiregistration2025-06-20T02:10:24.585309Z
okr.date.lastmodified2025-05-17T10:05:49Zen
okr.doctypeCountry Partnership Framework
okr.doctypeCountry Focus
okr.docurlhttp://documents.worldbank.org/curated/en/099041825095038960
okr.guid099041825095038960
okr.identifier.docmidBOSIB-a8841cc7-6884-4411-9319-775121afce43
okr.identifier.externaldocumentum40007797
okr.identifier.internaldocumentum40007797
okr.identifier.reportCPF0000029
okr.import.id7714
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttps://documents.worldbank.org/curated/en/099041825095038960/pdf/BOSIB-a8841cc7-6884-4411-9319-775121afce43.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryCroatia
okr.topicGovernance::International Governmental Organizations
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicPrivate Sector Development::Small and Medium Size Enterprises
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.unitECCHR - World Bank Office: Zagreb
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