ZAGREB,  22 Oct (Hina) - The Croatian economy will grow by 3.4% in 2024, the International Monetary Fund (IMF) says in its regular autumn report, thus raising Croatia's outlook upward for the second time this year.

In its regular World Economic Outlook in the spring, the IMF forecast a growth rate of 3% for Croatia in 2024, after it had initially projected a rise of 2.6%.

In 2025, Croatia's economy is projected to rise at a rate of 2.9%, 0.2 percentage points higher than the forecast made in the spring this year.

Croatia's inflation rate for 2024 has also been raised from 3.7% to 4%. The inflation rate is likely to decelerate to 2.8% in 2025, while the previous forecast for the inflation trends in 2025 put it at 2.2%.

The IMF's latest World Economic Outlook envisages that Croatia's balance of payments current account for 2024 will show a surplus of 1.5%. In 2025, it is expected to be at the level of 0.4% of the country's Gross Domestic Product.

The IMF latest forecasts show that Croatia's unemployment rate in 2024 will be 5.6%, and 5.5% in 2025.

The economy of the eurozone is set to rise at a mere 0.8% in 2024, and it should reach 1.2% in 2025.