The relative success of the center-right Croatian Democratic Union in the September 11th extraordinary parliamentary election in Croatia “should be good for Croatia and good for business" reports Boris Savoric, Senior Partner at Savoric & Partners in Zagreb, if the party succeeds in forming a government with one of the minority parties in the country.
The previous government’s postponement of a planned bond issuance on international capital markets "should be back on the table soon," he said, and several infrastructure projects which were delayed or cancelled as a result of the collapse of the previous government, such as the big Croatian motorways tender and the LNG project at Krk may be reactivated as well, providing substantial work for law firms in the country and a wealth of new jobs and investment.
Savoric reports being upbeat even before the election, however. He says the country’s GDP was growing "even when we had no government — so less politics, more business," and he explains that the country "had a successful touristic season, and there are lots of private deals regardless of the government problems."
In particular, he said, "some Croatian companies successfully issued bonds" even during the political crisis, and he reported that “there are lots of private equity funds buying non-performing loans, buying real estate projects, and shopping malls. There movement between Croatian companies — some mergers and acquisitions have been announced. We’re still very busy, as are many of our competitors."