On HNBlog, employees of the Croatian National Bank publish original professional content, and the views expressed therein may, but do not necessarily reflect the official views of the CNB. Comments are primarily intended for enhancing the professional and general public’s understanding of original analyses put forward by central bank employees. They may contain summaries of published scientific papers, upcoming papers (e.g. CNB Working Papers and Surveys) or they may serve as a platform for up-to-date public communication of results obtained as part of interesting ad hoc research projects, studies, unofficial assessments of the condition of the economy, or terms related to CNB’s operations sparking current interest. Examples of such a form of communication by central bank analysts may be found in the blogs of French central bank economists.

HNBlog

HNBlog

Is the level of financial literacy improving in Croatia?

Josip Pintarić

3/8/2020

Based on the results of the financial literacy survey conducted in 2015, the score for the Republic of Croatia (RC) was 11.7 points or 56%. According to the survey from 2019, progress was made as the score stood at 12.3 points or 59%. If analysed by components, the score was better in financial knowledge and behaviour and worse in financial attitudes. The Croatian National Bank is the institution which Croatian citizens trust the most with regard to financial literacy.

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HNBlog

Euroisation at a time of crisis

Ana Martinis

15/9/2020

The outbreak of the coronavirus pandemic and uncertainty about its effects on the economy have refuelled fears of the depreciation of the kuna and strengthened the tendency to hold foreign currency. This has reversed the years-long downward trend of the euroisation of the banking system. If the growth of foreign currency deposits continues, it does not necessarily have to trigger depreciation pressures, as was the case in March this year, but it may reduce the availability of kuna loans because banks might turn to granting indexed loans.

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HNBlog

Does Croatia have sufficient international reserves?

Gorana Lukinić Čardić

27/4/2020

The coronavirus pandemic has put strong depreciation pressures on the kuna, which prompted the Croatian National Bank to intervene in the foreign exchange market. Because of the foreign exchange sale, international reserves decreased noticeably within just a month and a half, which gave rise to concerns regarding their sufficiency. Notwithstanding the intensity of the decrease, all indicators of their adequacy show that Croatia has accumulated sufficient reserves for the continued maintenance of a stable exchange rate of the domestic currency.

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