"The current economic data and an expected continuation of an increase in investments in both public and private sectors, as well as of consumer spending, indicate that the 2019, growth could reach 3.1pc," the central bank said in a statement after its regular monthly management board meeting.

The revision follows higher than expected annual growth of 3.9pc in the first quarter. The figure for the second quarter is expected in late August.

The government has previously forecast 2019 growth of 2.5 percent but it is also likely to revise its projection upwards.

Earlier on Wednesday, the European Commission revised Croatia's 2019 growth forecast to 3.1pc from 2.6pc seen earlier. It also sees growth in 2020 of 2.7pc.