ZAGREB: Croatia's economy contracted 0.4 percent in 2014, the state statistics bureau said in its flash estimate on Friday.
It is the sixth consecutive year that the newest European Union member has recorded no growth. Since 2008 it has lost around 13 percent of its output.
In the last quarter of 2014 the economy grew 0.3 percent year-on-year in its first quarter of growth after a decline for 12 consecutive quarters.
The bureau will release detailed fourth quarter GDP figures on March 6.
For this year the government expects growth of 0.5 percent, while the central bank forecast just 0.2 percent saying the economy remains largely unreformed and incapable of attracting foreign investment needed for a stronger recovery.
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