September 28 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it expects Bosnia and Herzegovina's economic growth to stand at 3% in 2022, keeping unchanged its forecast from May.
Bosnia's economic growth is seen slowing down to 2.3% in 2023, the EBRD said in the September edition of its Regional Economic Prospects report. In its May issue, the EBRD projected an economic growth of 3% for Bosnia in 2023.
Lower gas supplies from Russia and rising inflation on a global level are expected to further slow economic growth in 2023 in the regions where EBRD works, the lender said.
For the Western Balkans region, the EBRD forecasts economic growth of 3.2% in 2022 and 3% in 2023.
However, projections are subject to major downside risk should Russia’s war on Ukraine escalate or the volume of its gas exports decline even more, the EBRD added.
In 2021, Bosnia's GDP grew by an estimated 7.1%.