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Dec 06, 2019 13:01 EEST
December 6 (SeeNews) - Bosnia's Serb Republic government said it has cut its 2020 forecast for the entity's economic growth to 3.5% from the previously predicted 3.7% in June.
The government has also cut to 3.7% from the previous 3.9% its forecast for the Serb Republic's GDP growth in 2021, while keeping unchanged at 4% the economic growth forecast for 2022, it said in a statement on Thursday after adopting its 2020-2022 economic reforms programme.
The stable economic growth in the coming period will be driven by the sustainable growth of domestic demand, the gradual recovery of exports and the positive effect of investments, the statement said.
The Republic's economic reforms in the next three years will be focused on supporting SMEs, implementing the health system and social protection system reforms, and improving the efficiency of the labour market, among others, the government said.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
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