March 22 (SeeNews) - Bosnia and Herzegovina's central bank said it expects that the country posted an annual economic growth of 3.9% in 2022, slightly lower compared with the November forecast of 4.1% growth.
In the fourth quarter of 2022 alone, Bosnia's gross domestic product (GDP) is expected to have increased by a real 1.7% on the year, the central bank said in a statement on Tuesday.
The economic slowdown is expected primarily due to the decreased foreign demand, lower industrial production and persisting inflationary pressures, the central bank said.
Average annual inflation is projected at 12.6% in the first quarter of 2023 and 8.6% in the first half of the year based on current data.
In the third quarter of 2022, the country's GDP grew by a real 2.6% year-on-year, following an increase of 5.5% in the previous quarter, according to preliminary estimates made by the country's statistical office.