This paper examines how COVID ‑19 was constructed as a security threat in Croatia and raises the question if securitization actors faced a securitization dilemma. The securitization dilemma occurs when securitization actors try to protect a certain referent object by introducing extraordinary measures which directly endanger another referent object. Alongside basic assumptions of securitization theory and the detection of securitization elements of COVID ‑19 in Croatia, the paper focuses on the introduction and suspension of restrictive measures by which securitization actors alternately protected different referent objects. The research indicates that securitization actors in Croatia used a balanced approach between the protection of public health and the economy as different referent objects.