January 6 (SeeNews) - The World Bank said it expects Bosnia and Herzegovina's gross domestic product (GDP) to grow by 2.8% in 2021, 0.6 percentage points below the estimate the bank made in June.
Bosnia's economy contracted by an estimated 4% in 2020, more than the 3.2% fall in GDP forecast in June, the World Bank said in its January 2021 Global Economic Prospects report published on Tuesday.
The World Bank expects Bosnia's GDP to rise by 3.5% in 2022.
The regional GDP growth of the Western Balkans is forecast at 3.5% in 2021, as consumer and business confidence recover and political instability eases, the World Bank noted.
The fall in the economic output of the Western Balkans region is estimated at 4.5% in 2020.