ZAGREB, 27 Feb (Hina) – The GDP growth of 4.3% in Q4 2023 is not surprising, notably when the growth of real retail trade turnover and real wage growth are taken into account, Croatian Chamber of Economy (HGK) chief economist Goran Šaravanja said on Tuesday in a comment on the latest GDP data.

In the last quarter of 2023, thanks to consumption and investment growth, Croatia’s GDP increased by 4.3% in real terms year on year, increasing for the 12th quarter in a row, while the 2023 GDP increased by 2.8%, the national statistical office (DZS) said in a first estimate earlier today.

Q4 2023 GDP grew faster than Q3 2023 GDP, which grew at a rate of 2.8%

The growth in the last quarter of last year is the fastest growth since the third quarter of 2022, when the growth was 5.5%.

“The data on Q4 GDP is not surprising, notably when one considers the growth of real retail trade turnover and real wage growth in the second half of 2023В as well as the increase in investment activity, where the contribution of EU funds is evident,” Šaravanja said.