Croatia will be a member of the EU from 1 July 2013 as the 28th country to join the Union. Parliament elections at the end of 2011 and Croatia’s full European Union membership are expected to accelerate fiscal and structural reforms and should make Croatia more attractive for foreign investors.
While macroeconomic stability of the country has been achieved and the worst of the recession is probably over, structural reforms lag and the concern still remains while Croatia is yet to see the signs of a sustained economic recovery. Further government actions will be essential to induce the recovery of the domestic capital market, especially regarding further privatization of public enterprises.
Zagreb Stock Exchange will continue its work on encouraging issuers to raise capital through the stock exchange, developing new products and services such as short selling and certificates, maintaining market integrity and investors’ confidence as well as providing a reliable mechanism for funding the growth of Croatian economy and raisingawareness about the importance of capital markets as one of the most significant factors in economic development.
Positive moments undoubtedly persist but certain risks remain, challenging sustainable market recovery and Zagreb Stock Exchange will carefully observe global as well as regional economy and equity market trends and remain in line with market expectations in order to become the market of choice in the region.