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kosovohp
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PostSubject: Croatia has so far   Mon Nov 01, 2010 1:12 pm

Croatia has so far weathered the global financial crisis reasonably well, but faces significant challenges in 2010 largely due to Croatia's external imbalances and high foreign debt, which in longer term presents problems for Croatian financial sector due to higher cost of borrowing to cover current account deficit.[64]

The country has been preparing for membership in the European Union, its most important trading partner. In February 2005, the Stabilisation and Association Agreement with the EU officially came into force and by the end of 2009 Croatia has closed 17 EU accessions chapters, with remaining 16 to be completed by the end of first half of 2010. Croatia is expected to join the EU sometimes in 2011 or January first 2012 together with Iceland.

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