Croatia Cut to Junk by Moody’s on Fiscal Weakness, External Risk

Croatia Cut to Junk by Moody’s on Fiscal Weakness, External Risk

Oliver Bunic/Bloomberg

A Croatian national flag hangs between buildings in Zagreb, Croatia. The government said Dec. 19 that the budget deficit will widen this year to 3.1 percent of economic output as the country repays debt and begins contributing to the EuropeanUnion’s coffers.