Recovery Not Expected Until 2014 We have again reduced our economic forecast for Croatia. We now expect GDP to contract by 0.4% 2013, recovering with 1.1% expansion in 2014. In our last quarterly shipping report we had expected growth of only 0.1% in 2013 1.3% in 2014, so in effect we are saying that this year is going to be weaker, but that the recovery next year will be a little stronger. The good news is that after five years of negative growth in 2008-2013, we believe the economy is finally bottoming out. The most likely scenario is that modestly …
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