Bakir's 1,000 jobs require 6 billion euros in investments!

"I promised to create 1,000 jobs per month, which is a very ambitious promise and its realization would mean a lot to the army of unemployed. I make this promise on behalf of the Party of Democratic Action (SDA), which has successfully led all processes in modern BiH when it had the necessary support of the people and voters – said Bakir Izetbegović, Bosniak member of the Presidency of BiH in an interview for „Oslobođenje“, who is aiming to spend another four-year term in the same chair. 

After such a statement, economic analysts are shocked by his conviction in what he said, because in BiH, and it is difficult to achieve even in more developed European countries, such promises, which Izetbegović is very prone to when showing false concern and solidarity with suffering citizens, are unfortunately not even theoretically possible to fulfill at the moment. 

Duljko Hasić, an economic analyst, told Patria that to fulfill such promises, it would first be necessary to create the prerequisites.

- In order for such an economic boom of employment of 1,000 people per month, or 12,000 annually, to be achieved in BiH, it is necessary to create prerequisites, and they include the following. So, in that case, the GDP growth rate would be between 8 and 9 percent annually, and at least five to six billion euros of foreign investment would need to enter this country. I ask the question whether this is possible to achieve. Is this achievable in such an environment – says Hasić.

Now we come to the answer to the key question of whether the conditions exist for something like that, says Hasić, explaining that before that is done, appropriate conditions must be created, in fact, a business environment must be created for investments from both domestic and foreign investors.

- And for people to invest, an appropriate favorable climate must be ensured, both economically and politically. And again, we come back and unravel the ball, such a business environment must be created that will be more competitive than the surrounding countries. Is that possible, is it possible that someone tomorrow after the elections comes and opens their wallet wide and invests in this country when we know what barriers exist – added Hasić.

He further explains that before that, it is necessary, and no one talks about it, to carry out appropriate structural and economic reforms.

- Business climate, stability, business environment, then corruption which cannot be eradicated so quickly, about which parties know a lot, extremely inefficient bureaucracy that is present, an extremely high degree of corruption that prevails in BiH, reforms that have not been done, then legal solutions that represent obstacles, from the one related to the Labor Law, to huge tax expenditures amounting to 69 percent and parafiscal burdens, so that all of this accumulates to 73 percent, represents a truly insurmountable obstacle – emphasized Hasić.

Hasić specifically addressed the fact that BiH unfortunately still lacks coordination or a created harmony between the education system and the needs of the labor market.

- Politicians say they will employ people, but the job of creating such an education system that will serve the labor market is necessary but also long-term. The education system is neglected and does not serve the development of this country. Strategic directions are needed for this country. On the one hand, based on its potentials, and on the other hand, according to the needs and the huge number of unemployed – explained Hasić.

Finally, Hasić emphasizes that the system must first be put in order, prerequisites must be created, and then the work should begin.

It is theoretically impossible to start employing so many people immediately – says Hasić.