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The total consumption of medicines increased by 5% in 2021 compared to 2020. In financial terms, that is an increase of HRK 9.88 billion (or 17.4%) compared to 2020. Prescription-only medicines accounted for 92.9% of all consumption, while over-the-counter products accounted for 7.1%.

During the past decade, the Albanian energy sector has benefited from a wave of domestic and foreign investments in hydro-power generation. Photovoltaic and wind energy generation has lagged behind for a long time. Increasing environmental concerns over the excessive use of water resources and the continuous reduction in technology costs are now shifting the government’s focus toward photovoltaic and wind energy generation.

The start of the 21st century has seen the biggest changes and developments in employment law since its birth in the flames and smoke of the industrial revolution. The norm of the second half of the 20th century, comprising eight-hour shifts and nine-to-five office jobs, is now being dismantled. From remote working, flexible hours, compressed workdays and workweeks, all the way to platform work, the spectrum of employment law has never had so many colors. Even though Croatia represents a small jurisdiction, worldwide trends are certainly not bypassing it.

On June 1, 2022, Commission Regulation (EU) 2022/720 on the application of Article 101(3) of the Treaty on the Functioning of the European Union (TFEU) to categories of vertical agreements and concerted practices (EU VBER) entered into effect in all EU member states. The new EU-level rules were adopted, inter alia, to align the existing framework with the specifics of the online platform economy which plays an important role in the distribution of goods and services across the whole EU. Still, although the new VBER has significantly changed the rules on the application of Article 101(3) TFEU to vertical agreements, the existing Croatian Regulation on Block Exemption of Vertical Agreements between Undertakings (Croatian VBER) has not (yet) undergone a similar revision. 

On 1 January 2023, the Republic of Croatia will enter the eurozone and replace the Croatian kuna (HRK), the existing national currency, with the euro. Although the change has been welcomed by most stakeholders, it also leads to increased demands for regulatory compliance and additional expenses.

Nothing worse than something spoiling your party. Croatia had a perfect tourism season, with plenty of guests staying at hotels, resorts, camps, or yachts. Other industries are doing great as well. On top of everything – Croatia is admitted to the eurozone as of January 2023, and the National Bank reduced the required reserve ratio and abolished the minimum foreign currency liquidity, strongly increasing banks’ cash resources! Everything was ready for a 2023 party – plenty of funds within the banks, industry in its upward trend, the real estate sector developing, new unicorns ahead of us – it seemed like financing possibilities would be all around, with low interest rates and plenty of opportunities!

Legal markets, much like other markets, are susceptible to global tendencies and changes shaping the industry. CEELM sat down with Divjak Topic Bahtijarevic & Krka Partner Ema Mendjusic Skugor to discuss the Croatian legal market and its growing pains in keeping up with global trends.

On January 1, 2023, Croatia will finally gain a much-coveted place in the eurozone club. Making the switch is a massive undertaking that will impact every person living and working in the Adriatic country. Eight Croatian legal experts share their insights on how the market will adapt, how the legislative framework will change, and who will stand to gain the most.

Aside from Croatia entering the Euro and Schengen zones, there have been numerous other legislative updates of note – primarily in the spheres of labor and land rights – according to Miroslav Plascar, Co-Managing Partner of Zuric i Partneri in cooperation with Kinstellar.

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