Croatia - Policy Notes : A Strategy for Smart, Sustainable and Inclusive Growth

Signing the accession treaty with the European Union (EU) and its forthcoming membership to the EU are remarkable opportunities for Croatia to address a number of economic challenges and join the EU as a competitive and successful economy. The new...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO INFORMATION ASSET MANAGEMENT ASSET QUALITY BAILIFFS BALANCE SHEET BALANCE SHEETS BANK BALANCE SHEETS BANK DEPOSITS BANKING INSTITUTIONS BANKING SECTOR BANKING SECTORS BANKRUPTCY BANKRUPTCY DECISIONS BARRIERS TO ENTRY BASIS POINTS BONDS BORROWING REQUIREMENTS BORROWING STRATEGY BROAD MONEY BUDGET CONSTRAINTS BUSINESS CYCLE CADASTRE CADASTRES CAPACITY CONSTRAINTS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL INVESTMENTS CENTRAL BANK COLLATERAL COMMERCIAL BANKS COMPLIANCE COSTS CONFLICTS OF INTEREST CONSUMER PRICE INDEX CONTINGENT LIABILITIES CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CREDIBILITY CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT GUARANTEE CREDIT INSTITUTION CREDIT INSTITUTIONS CREDIT LINE CREDIT LINES CREDIT RISK CREDITORS CROATIAN NATIONAL BANK CURRENCY CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT MATURITY DEBT CRISIS DEBT OVERHANG DEBT SERVICE DECENTRALIZATION DEPOSIT DEPOSIT INSURANCE DEPOSITOR DEPOSITS DEVALUATION DISPUTE RESOLUTION ECONOMIC DEVELOPMENT ECONOMIC POLICIES EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKETS ENABLING ENVIRONMENT ENFORCEMENT SYSTEMS EQUIPMENT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXTERNAL DEBT EXTERNAL INDEBTEDNESS FINANCES FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL SERVICES FINANCIAL SHOCK FINANCIAL SYSTEM FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FIXED CAPITAL FIXED EXCHANGE RATE FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FRAUD FUTURE LOAN GLOBAL ECONOMY GOVERNMENT DEFICIT GOVERNMENT FINANCE GOVERNMENT GUARANTEES GOVERNMENT INVOLVEMENT GOVERNMENT POLICIES GRANT FUNDING GROSS DOMESTIC PRODUCT HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCES INCOME LEVEL INCOME TAX INFORMATION SYSTEM INFORMATION SYSTEMS INFORMATION TECHNOLOGY INSTITUTIONAL CAPACITY INSTITUTIONAL DEVELOPMENT INSTRUMENT INTELLECTUAL PROPERTY INTEREST PAYMENTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL INVESTORS INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENTS INVENTORY INVESTMENT BANKS INVESTMENT CLIMATE INVESTMENT LOAN JUDICIAL PERFORMANCE JUDICIAL REFORM JUDICIAL REFORMS JUSTICE SYSTEM LABOR MARKET LABOR MARKETS LAND OWNERSHIP LEGAL SYSTEM LIMITED LIABILITY LIQUIDATION LIQUIDITY LOAN LOCAL GOVERNMENT LOCAL GOVERNMENTS LOCAL MARKET LONG-TERM FINANCE MACROECONOMIC STABILITY MARKET CONDITIONS MARKET CONFIDENCE MARKET ECONOMIES MARKET ECONOMY MARKET MECHANISMS MARKET REFORMS MARKET RISKS MARKET SHARE MARKET STRUCTURE MATURITIES MATURITY MONETARY POLICY NATIONAL BANK NON-PERFORMING LOAN NON-PERFORMING LOANS NONPERFORMING LOANS NOTARIES NOTARY NPL OPEN ECONOMY OWNERSHIP STRUCTURE PARTIAL CREDIT PARTIAL RISK PENSION PENSION REFORMS PENSION SYSTEM PENSIONS PERSONAL INCOME POLICY RESPONSES POLITICAL STABILITY PORTFOLIO PORTFOLIOS PRIVATE EQUITY PRIVATE SECTOR CREDIT PROPERTY RIGHTS PRUDENTIAL REGULATION PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC SPENDING PURCHASING POWER REAL INTEREST RECURRENT EXPENDITURES REGULATORY FRAMEWORK RESERVE RESERVE REQUIREMENT RESERVES RETURN RISK MANAGEMENT RISK MANAGEMENT SYSTEM RULE OF LAW SAFETY NET SAFETY NETS SECURITIES SETTLEMENT SHORT-TERM DEBT SOVEREIGN DEBT SUPERVISORY AGENCY SUPERVISORY AUTHORITY SWAP T-BILLS TAX TAX ADMINISTRATION TAX COLLECTION TAX RATES TAX SYSTEM TAX SYSTEMS TELECOMMUNICATIONS TOTAL DEBT TRADING TRADING SYSTEM TRANSITION ECONOMIES TRANSPARENCY TREATY TRUST FUND TURNOVER WATER USE WITHDRAWAL WORLD FINANCIAL MARKETS
Online Access:	http://documents.worldbank.org/curated/en/2012/02/16264420/croatia-policy-notes-strategy-smart-sustainable-inclusive-growth http://hdl.handle.net/10986/12440

Description
Summary:	Signing the accession treaty with the European Union (EU) and its forthcoming membership to the EU are remarkable opportunities for Croatia to address a number of economic challenges and join the EU as a competitive and successful economy. The new Croatian government in its program for 2011-2015 seeks higher standards of living for its citizens through sustained economic growth and greater social cohesion. Given the legacies from the past, these tasks will require ambitious and credible policy decisions. Once it joins the EU, Croatia will also have to contribute to the Europe 2020 strategy for smart, sustainable and inclusive growth which calls on member states to set national targets in employment, innovation, education, social inclusion and climate or energy. These targets will also require concerted efforts in structural reforms by the Government of Croatia. A major priority for the coming two to three years will be to create fiscal space to absorb EU funds and avoid being a net contributor to the EU. Upon accession, the EU Structural and Cohesion funds available to Croatia will exceed Euro 1.5 billion a year. At the same time, Croatia will also be obliged to contribute about 680 million annually to the EU budget. A number of new member states have found it a challenge to access and absorb EU funds effectively and efficiently. This requires a lot of preparatory work to get projects ready now for the time when EU structural and cohesion funds can be accessed, as they represent a huge increase over pre-accession funds and a great opportunity to address Croatia's needs in transport and environment, as well as in innovation and modernization of production.

Croatia - Policy Notes : A Strategy for Smart, Sustainable and Inclusive Growth

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