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Nov 07, 2017 17:26 EEST
November 7 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it affirmed Bosnia's economic growth forecast at 2.5% this year and at 3.0% next year.
"The economy in Bosnia and Herzegovina has once again proved resilient to negative shocks, including the marked slowdown in reforms in the past year," the EBRD said in its latest Regional Economic Prospects report.
Economic growth estimates for 2016 have been revised upwards recently to 3.2%, and the economy continued to grow in the first half of 2017 albeit at a slower rate, estimated at 2.2% year-on-year, the lender said.
It explained that the slowdown was driven by weaker performance of the agriculture and construction sectors compared to the same period of last year, as well as a levelling off of the industry sector.
The EBRD warned that there are significant downside risks to its forecast if the country’s reform agenda remains stuck.
It added that the first review of the IMF programme is still on hold, pending the completion of several prior actions and, as a result, implementation of some key infrastructure projects, including Corridor Vc, is delayed.
EBRD projects that the economies of Southeast Europe will achieve growth of 3.6% in 2017 and 3.3% next year.
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