World Bank: Stable economic growth in Bosnia and Herzegovina, modest number of new jobs

The number of jobs is increasing in the Western Balkan countries as growth continues across the region. Regional growth is expected to reach 2.6 percent in 2017, a result of the creation of 230,000 new jobs by June 2017 – an increase of 3.8 percent compared to the previous year.

Despite high unemployment in the six countries of the region, employment rates have returned to pre-2008 levels in Albania, Kosovo, the former Yugoslav Republic of Macedonia, Montenegro, and Serbia. More than half of the new jobs in the region were created in the private sector.

According to the latest World Bank Western Balkans Regular Economic Report, released today in Pristina, Kosovo, all six Western Balkan countries are expected to record growth in 2017, with regional growth projected to accelerate to 3.3 percent in 2018 and 3.6 percent in 2019. Investments have driven strong growth in Albania, Kosovo, and Montenegro, while consumption has led to stable growth in Bosnia and Herzegovina. The earlier political crisis worsened growth in the FYR Macedonia, as did an extremely cold winter in Serbia.

- During the period 2017-2019, the BiH economy is expected to grow by an average of about 3.2 percentage points - says Emanuel Salinas, World Bank Country Manager for Bosnia and Herzegovina.

- Commitment and progress in implementing structural reforms that will ensure macro-fiscal stability, private sector development, and improved efficiency of social spending are key to future growth and job creation in Bosnia and Herzegovina - adds Salinas.