Bosnia and Herzegovina: 2024 Article IV Consultation-Press Release; Staff Report
Bosnia and Herzegovina: 2024 Article IV Consultation-Press Release; Staff Report
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Volume/Issue:
Volume 2024
Issue 175
Publication date: June 2024
ISBN: 9798400278723
$20.00
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Topics covered in this book
This title contains information about the following subjects.
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Exports and Imports , Finance , Labor , Public Finance , Current spending , Inflation , Financial sector stability , Loans , Capital spending , Wage adjustments , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Wages
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Summary
Growth decelerated to 1.7 percent in 2023 from 4.2 percent in 2022 but has
proven resilient despite ongoing headwinds, such as spillovers from the war in Ukraine and
from the economic slowdown in Europe. Inflation has moderated from 17.4 percent in
October 2022 to 6 percent, on average, in 2023, but wage pressures linger due to
minimum wage increases and emigration. The fiscal balance deteriorated from a surplus of
0.9 percent in 2022 to a deficit of 1.7 percent in 2023, reflecting the accumulated impact of
several permanent increases in public wages and social benefits. Progress on structural
reforms remains limited, although EU accession talks appear to have sparked some reform
ambition.
