The World Bank cut Bosnia-Herzegovina’s economic growth forecasts by half a percent this year.
In the semi-annual Global Economic Outlook, the World Bank expects a 3.4 percent growth in BiH’s GDP this year, BiznisInfo reports.
That’s half a percent less than according to an earlier forecast released half a year ago.
For the next year, 2021 is projected to grow by 3.9 percent, which is also 0.1 percent less than in the previous forecast.
In addition, the estimate for growth in 2019 has changed – reducing it by 0.3 percent to 3.1 percent.
BiH has last year saw a fall in exports and a decrease in industrial production.
The World Bank forecasts global economy growth of 2.5 percent this year, a slight recovery from 2.4 percent growth in 2019.
“After the worst performance since the beginning of the global economic crisis, the world economy is preparing for a modest recovery this year if everything goes as planned,” the document states.
