Business

As the coronavirus crisis tightens its grip on public health and the gloal economy, the powers that be in Croatia are stepping forward to at least bring more financial ease to Croatian companies and enterprises during these extremely tying and unpredictable times. The Croatian Chamber of Commerce, which is frequently otherwise critised, is one of them. As Novac/Adriano Milovan writes on the 20th of March, 2020, the Croatian Chamber of Commerce (HGK) has decided to suspend the obligation for Croatian companies to have to pay membership fees if their operations have been disabled due to the coronavirus epidemic. The move from…

ZAGREB, March 20, 2020 - Director-general of the Croatian Employers' Association (HUP) Davor Majetić said on Friday that the economy would feel the consequences of the novel coronavirus for the next 1.5 to 2 years and perhaps even longer, adding that he expects the public sector to show solidarity with the private sector. Commenting on the government's 63-measure rescue package, Majetić said that defining the criteria to hand out HRK 3,250 per employee marks the start of the first and most important measure that the government has adopted for now to bail out the economy. That measure is exceptionally important…

Or: How to save as many companies and employees. Meet Glas Poduzetnika (Voice of the Entrepreneur), a new private-sector initiative in Croatia. March 21, 2020 - In the second half of March 2020, the coronavirus outbreak and its economic repercussions are on the rise and going truly global. From the health perspective, Croatia is comparatively well, with currently just 130 reported infected patients. On the other hand, chaos and fear, flavoured with uncertainty are also on the rise in business circles and between employers and employees. In the last few days, hundreds of employees have already been fired, and companies are…

ZAGREB, March 20, 2020 - Between 24 February and 15 March, during the coronavirus outbreak, Croatians spent HRK 300 million (€40m) more on food, beverages, personal hygiene and chemicals than at the same time last year, the GfK market research agency says. Analysing 20 million shopping baskets, or ranges of products sold in the reported period, GfK found that Croatians mostly bought salt, frozen ready-to-eat meals, tinned meat and fish, wine and spirits. The list of 20 products with the highest increases in sales is topped by salt, with a sales increase of 290%. Flour and yeast, which, along with…

ZAGREB, March 20, 2020 - Croatia will face a steep fall in GDP this year, of almost 5% on the year, while seasonality in tourism demand and weak industry will make recovery slower in comparison with other countries, Raiffeisenbank Austria analysts have said. The current situation and coronavirus spread will have a significant impact on the Croatian economy, especially due to its strong dependence on tourism, according to a special publication, "Covid-19", published by RBA on Friday. It is already quite certain that there will be no preseason, and the impact of the epidemic on the peak tourist season is…

ZAGREB, March 20, 2020 - The AD Plastik car parts manufacturer said on Friday that it was forced to suspend most of its production in Croatia, Serbia and Hungary due to its customers, global automobile companies, halting their production. "As our customers, leading automobile manufacturers, have stopped their production (...) we have been forced to halt most of our production in Croatia, Serbia and Hungary," the company said in a press release on the effect of the coronavirus on its business, published by the Zagreb Stock Exchange (ZSE). AD Plastik underscores that it cannot predict how long the current situation…

With the new set of Croatian Government measures introduced and now fully in force, cafes and restaurants, among other facilities deemed unnecessary to be open, have had to close their doors. Croatian restaurants with delivery services can still function, but can they really keep their businesses going relying on delivery alone? As Poslovni Dnevnik/Marija Crnjak writes on the 20th of March, 2020, while cafes have absolutely no choice but to wait for the coronavirus crisis to peak and for better days to come, many Croatian restaurants are planning to keep going with their delivery services, despite the fact that their…

The lines of laid-off waiters, chefs and other hospitality workers in front of the Croatian Employment Bureau are concrete proof of the real market situation thanks to the increasingly concerning coronavirus outbreak. Croatian entrepreneurs and company owners have looked at the recent set of coronavirus crisis measures, with some praise and others left unsatisfied and worried, comparing the measures to ''putting a plaster on a gunshot wound''. As Poslovni Dnevnik writes on the 19th of March, 2020, despite the announced Croatian Government coronavirus measures, layoffs in the hospitality industry were set in motion, as evidenced by the rows of worried…

It is estimated that the Croatian Government will need to spend a massive five billion kuna to keep the proverbial ship afloat as coronavirus gives the domestic economy a beating. As Poslovni Dnevnik writes on the 19th of March, 2020, businesses and companies that want or need Croatian Government assistance of 3,250 kuna per employee will have to meet a number of criteria and will only receive their first payments in April. The Ministry of Labour has adopted the criteria and requests will be submitted from Monday onwards, with payments being made by April the 15th, 2020, at the absolute…

ZAGREB, March 19, 2020 - The price of cigarettes will go up by up to HRK 2 per pack starting April, and there will also be an increase in the prices of alcoholic beverages, soft drinks with higher sugar content and energy drinks, the Croatian government decided on Thursday. The government adopted regulations governing excise taxes and special taxes on those products. Three regulations were adopted - on excise taxes on tobacco and tobacco products, on excise taxes on alcohol and alcoholic drinks, and on the calculation and variables for special taxes on coffee and soft drinks - to come…