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The Standard & Poor's agency increased Croatia's long-term rating from BBB+ with a positive outlook to A- with a positive outlook. i.e. in "above average credit quality".
S&P states that positive economic indicators, fiscal consolidation, successful implementation of the National Recovery and Resilience Plan (NPOO), as well as political stability ensured by the Government and the parliamentary majority contributed the most to the growth of the rating. It is emphasized that in addition to the key policies anchored within the NPOO, the Government continues to implement reforms and investments using European funds, which has the potential to strengthen economic resilience, improve productivity and strengthen the overall business environment.
"In 5 and a half years, progressing from non-investment grade (BB+) to A- investment credit rating is a huge step forward for Croatia, which we can be proud of. With membership in the Schengen area and the euro area, Croatia is now positioned in the narrowest circle of countries. This is an extremely positive signal of security for all foreign and domestic investors, as well as for the confidence of international financial institutions.", said Prime Minister Andrej Plenković.
S&P concludes that in the three-year period 2021-2023. Croatian GDP grew by an average of 7,6%, i.e. more than twice as fast as the EU average, and they forecast an average growth of 3% in the period 2024-2027. With budget balance, the Government's efforts were welcomed regarding the further reduction of the share of public debt, to a level below 60% of GDP.
In terms of achieving energy security, S&P points out that in the past three years, Croatia has diversified its energy sources primarily thanks to the construction of the LNG terminal on Krk.
"We are extremely satisfied with this outcome and the messages that the agency Standard and Poor's stated in its report, where it was pointed out that the increased integration of Croatia with European and global political partners encouraged the implementation of reforms, brought wider institutional improvements in the economy and the country as a whole", said Deputy Prime Minister and Minister of Finance Marko Primorac.
The new tube of the Učka tunnel was opened - a historic day for Istria and Croatia
Last night, the second tube of the Učka tunnel was ceremonially opened. The drilling work lasted for three years, and the total investment was about 200 million euros. The tunnel is 5630 meters long and is the third largest in Croatia after the Little Chapel and St. Rok.
Let us remind you that the first tube of the tunnel through Učka was built in 1981 and will soon be closed for reconstruction and modernization.
Opening ceremonies high-ranking guests, ministers and Prime Minister Andrej Plenković were present, who recalled that exactly four years ago, on September 13, at the Government session in Pula, a political decision was made to completely complete the full profile of the Istrian epsilon, to build the second tube of the Učka tunnel .
"The government did not have the slightest doubt that Istria and Primorje-Gorski Kotar County and the whole of Croatia deserve the completion of this project. By the beginning of next season, we will restore the old pipe, and a year later the full profile will be built on the Mirna bridge and the Limska draga viaduct, and the highway to Matulja", emphasized Plenković.
In the meantime, he continued, our part of Corridor 5C will be finished, the highway to Sisak will be finished, the new Kozjak tunnel will be broken, and the bypass of Split from Trogir to Omiš will be improved. In addition, the highway to Dubrovnik, the expressways to Koprivnica and Požega, from Bjelovar to Virovitica, and the expressway that will connect Varaždin, Lepoglava, Ivanec and Krapina will be completed.
