World Bank sees Bosnia’s economic growth slowing to 2.7% in 2022

by Cristian Florescu

Bosnia and Herzegovina’s economic growth is expected to decelerate to 2.7% in 2022, after an estimated 7.1% expansion last year, the World Bank said on Wednesday, writes

The country’s output growth in 2022 is projected to slow as the war in Ukraine disrupts trade and exacerbates energy and food price increases, the World Bank said in a statement after releasing its latest Western Balkans Regular Economic Report.

“The uncertainty and the impacts of the war in Ukraine are amplifying the need for the authorities in Bosnia and Herzegovina to accelerate structural reforms and fiscal prudence in order to mitigate the increasing risks while striving to create economic opportunities for its people and achieving a resilient post-COVID recovery,” Christopher Sheldon, World Bank country manager for Bosnia and Herzegovina and Montenegro, said.

Economic growth for the Western Balkans region is forecast at 3.1% in 2022, down from the 4.1% estimate in January. The region’s GDP growth reached 7.4% in 2021, after a contraction of 3.2% in 2020.

In the spring edition of its Europe and Central Asia Economic Update published in April, the World Bank projected a 2.9% economic growth in 2022 for Bosnia and Herzegovina.

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