Recovery of croatian economy expected in 2011

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Croatian companies expect an even worse economic situation in the future and expect recovery to begin only in 2011, according to Roland Berger Strategy Consultants research.
Its study on trends in restructuring was conducted in response to the global economic crisis in spring 2009.
Researchers contacted the directors and managers of approximately 40 Croatian companies in 13 different industries.
The aim of the study was to find out how much and where the global economic crisis had affected the companies and which opportunities and risks management foresaw.
The study found the construction industry had been strongly affected by the crisis but the pharmaceutical & health-care sectors had been almost unaffected.
The study's key findings show that the crisis has not hit rock bottom yet, and most Croatian companies are suffering from a credit crunch. Around 96 per cent of the companies reported additional difficulties when applying for new credit.
The crisis in Croatia has caused an investment crunch, lower sales and worse consumer payment behaviour.

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