European Commission’s report: Economy in Bosnia and Herzegovina expanded by 3.4 percent

EPA/OLIVIER HOSLET

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European Commission has published the ‘EU Candidate Countries’ & Potential Candidates’ Economic Quarterly (CCEQ)’ report for the third quarter of 2018. 

The report reads, among other things, that the economic upswing continued in the Western Balkans during the second quarter of 2018 with annual GDP growth accelerating to 4.3 percent across the region.

When it comes to Bosnia and Herzegovina, the report concludes that political situation in the country - with frequent deadlocks and delays - is seen as a potentially negative factor for the country’s credit rating, which currently stands at ‘B with stable outlook’, according to rating agency Standard & Poor’s.

Real Gross Domestic Product in Bosnia and Herzegovina rose by 3.4 percent year-on-year in the second quarter of 2018, up from an increase of 2.0 percent in the first quarter”, the report reads.

According to European Commission, the registered employment continued to increase, with the number of registered persons in paid employment being 2.4 percent higher in the second quarter than a year before. “To a certain extent, those numbers also include improved registration of so far informal employment. (…) Youth unemployment remains high, while the share of long-term unemployed, i.e. persons without employment for more than 12 months, is at around 80 percent of total unemployed”, the report concluded.

European Commission’s report also reads that “according to the preliminary findings and conclusions of the OSCE/ODIHR Election Observation Mission, the (October 7) elections in Bosnia and Herzegovina were genuinely competitive but characterized by continuing segmentation along ethnic lines”.