Agriculture

World Bank Evaluated Croatian Agriculture, States Is Economically Justified

World Bank Evaluated Croatian Agriculture, States Is Economically Justified

The initial results of an in-depth evaluation of Croatian agriculture show that investment in agriculture is economically justified and that 1 million dollars invested in agricultural production generate an increase of 5.19 million dollars within the worth of the overall quantity of economic output.

The evaluation was carried out by World Bank experts, who say that the Croatian agricultural sector has many similar benefits that can be utilized to extend growth and development. Similar to unrestricted entry to the EU market, heading to funding beneath the Common Agricultural Policy, various agricultural and environmental situations, good land and abundant water sources, comparatively low labor prices, good highway infrastructure, and rising tourism.

The World Bank, nonetheless, notes that Croatia continues to be depending on agricultural and meals imports, whereas Croatian farmers use out of date and ineffective equipment, slowly alter to technological modifications and innovations, and rarely type associations, which makes them much less competitive and less adaptable to vary.

The document exhibits that to ensure that the agricultural and food sector to achieve its full potential, it’s essential to make enhancements in agrarian productiveness and in creating added worth by connecting major manufacturing and processing.

The evaluation reveals that Croatia is presently aggressive in low-value major agricultural merchandise, akin to cereals and oil crops (sunflower and soybean), while its competitiveness in high-value products is proscribed to a comparatively small variety of horticultural and livestock products.

The document additionally exhibits that Croatia ought to seize the alternatives supplied by natural manufacturing as a result of in contrast with different EU countries, Croatia has recorded the most substantial increase in areas under organic production.

About the author

Marion Hartnett

Marion Hartnett

Marion is leading of the agriculture column. He has a vast knowledge about the agrarian economy of the world and knows a lot about the processing industry. This hands-on experience of him has enhanced the quality of his articles, and hence, it enables a better ripple in the readers’ mind. He focuses in his work every time he is assigned a project, and his depth of concentration is immovable.

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