The topic of this final paper explains the privatization process and its outcomes in Croatia. When we talk about privatization, we are primarily talking about the process of transforming state-owned property into private property, that is, the process of privatization is assumed to be a transformation from an economic system controlled and directed by the state to a market system. As far as the privatization process is concerned, the Republic of Croatia, like all other transition countries, has gone through a turbulent process. The main reason for this is the state of war that befell Croatia, so the privatization process itself was difficult in terms of deep economic consequences. Furthermore, the effects of privatization within the five transition countries are represented too with their results. The privatization of Croatia was carried out in four phases, and we briefly explain each stage with tables and data. Nevertheless, one can notice how "accelerated" the privatization process was. Thus, loans, and ultimately bank loans, were issued at a high speed, all for the purpose of buying stocks that would eventually be privatized. In addition to the above, the paper also analyzes enterprise development and privatization methods.