Croatia’s economic performance in December suggests an annual GDP growth rate of 3.7% last year, the Institute of Economics Zagreb (EIZ), a local think-tank, said.

The EIZ estimate is based on the EIZ Coincident Economic Index (CEIZ), which decreased by 0.48 index points in December compared to the same month in 2023, EIZ said in a press release. Compared to November 2024, the index value dipped by 0.03 index points.

In the fourth quarter of 2024, the annual GDP growth rate was estimated at 3.4%, down from 5.3% recorded in the last quarter of 2024 and slightly lower than 3.9% in the previous quarter, EIZ added.

Croatia’s statistical office will release GDP growth estimate for the last quarter of 2024 on February 27.

The estimate for the annual GDP growth for 2024 is in line with a central bank’s projection from December and slightly higher than the government’s and European Commission’s 3.6% forecasts from November.

Croatia’s economy expanded by real 3.3% in 2023.