25,000 people left BiH due to riots!

The demonstrations sent a bad image of Bosnia and Herzegovina to the world, said Duljko Hasić, economic analyst at the Foreign Trade Chamber of BiH, for the BiH news agency Patria (NAP). He stated that the BiH economy suffered the greatest damage, especially in the segment of tourism and investments.

As Hasić pointed out, data from the Tourist Board show that 25,000 people left BiH in the first seven days of the protests.

- Sarajevo was considered one of the 10 most desirable destinations according to the recommendations of world tourist associations. Now, that has largely changed - Hasić states.

Given the events that have been ongoing since February 7, it is clear that this has also affected the overall business environment in our country.

- All those who intended to invest through business arrangements have given up. Capital seeks security, and those who have invested money are afraid for the security of their capital, and there is a fear of investment withdrawal - Hasić warns.

When asked if this is the biggest economic crisis after the war in BiH, Hasić states that the crisis has left significant consequences in a short period.

- Businessmen are suffering damage, those who procured on deferred payment are now being asked for advance payment, which has further burdened businessmen and industry. And, in the long run, we can have a problem with our image in the world - Hasić emphasized.

Regarding the forecasts of the World Bank, which published an economic report for Southeast Europe at the end of last year, stating that economic growth of two percent is expected in BiH in 2014, Hasić calls it unrealistic.

- It is an election year, we have a huge number of unemployed people, the foreign debt is huge, and I can say that this situation is not sustainable. If we maintain last year's level, that will be a success - he points out.

Otherwise, BiH's foreign debt has increased by 100% from 2008 to the present. At the end of last year, the foreign debt amounted to 12 billion KM. According to economic expert Hasić, BiH "has no strategy, coordination, or programs for directing money taken through borrowing from the International Monetary Fund (IMF)."

It is unrealistic, Hasić states, to invest money in "budget holes, in administration, and the state is borrowing so much that we have already entered into debt slavery."