Bosnia and Herzegovina:2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bosnia and Herzegovina

2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bosnia and Herzegovina
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Volume/Issue: Volume 2021 Issue 043
Publication date: February 2021
ISBN: 9781513570556
$18.00
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Topics covered in this book

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Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , BiH authorities , BiH banking sector , Central Bank of BiH , near-term fiscal policy priority , authorities' policy response , COVID-19 , Loans , Capital spending , Global , Eastern Europe

Summary

Pre-pandemic, Bosnia and Herzegovina’s (BiH) economy was growing, but at a pace below the more successful countries in Eastern Europe. The pandemic generated a substantial output contraction in 2020. Early in the pandemic, the authorities successfully implemented restrictions to prevent the spread of the virus and took measures to support firms and households. However, the ongoing second wave poses additional challenges. A gradual recovery is expected for the second half of 2021. Political disagreements about policy coordination at the BiH State level have hampered program implementation under the 2016 EFF arrangement and the deepening of the single economic space. The challenge is to deal with the pandemic and put the economy on a higher medium-term growth trajectory.