Credit demand is finally returning to Croatia after six years of deleveraging, but policymakers and analysts say that a return to pre-crisis levels of lending growth is a long way off, particularly in retail.
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| Boris Vujcic |
“The household sector is still very cautious in raising new debt, despite positive labour market trends,” says Boris Vujcic, Croatia’s central bank governor. “We are seeing a recovery in lending to the segment, but it will be a slow path.” Net new lending to Croatian households rose by more than 1% year on year in March for the first time since 2008, according to central bank data.
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