Croatia is currently in a very deep recession, but joining the EU will significantly increase its possibilities to receive financial support and attract investment. Those are the views of Peter Harold, World Bank Country Director for Central Europe and The Baltic States, reports Croatian radio television.

Although not surprised by the fall itself, the World Bank are, Harrold said, surprised by the depth of the fall of Croatian industrial production in the first quarter, which was a large 9.4 per cent.

Harold avoided assessing the current economic policy, but said that the government's intentions were good, because it wants to reduce the deficit and redirect spending to stimulate growth and employment and to start investment.