Bad Forecast for Croatia, Best for Serbia  | Beta Briefing

Bad Forecast for Croatia, Best for Serbia 

Source: Beta
SEE Business / Region | 18.05.20 | access_time 11:48

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The Croatian economy could, due to the coronavirus epidemic, sink as much as 11% this year because of its orientation toward tourism, while the one who might fare the best in the region is Serbia, with a decline of 4%, according to the latest analysis for the Vienna Institute of International Economic Studies. 

The analysis underlines that the epidemic has caused a never before seen shockwave in the region’s economies, with consequences that will be stronger than those in the previous recession, Croatian media report. 

Aside from Croatia, the Institute forecasts a big GDP slump for Slovenia, too, of 9.5%, followed by Slovakia and Montenegro with 8.5% each. 

On the other hand, states that are the least dependent on tourism or are less integrated into the global economy should be the best off, primarily Serbia and Poland with a 4% decrease in economic activity.

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