IMF lowers Bosnia's 2019 economic growth forecast to 2.8%

Bosnia's economic growth will slow to 2.6% in 2020 (down from the earlier anticipated 3.2%) but will then pick up again to 3.0% in 2024 (down from 3.5% forecast in April), the IMF said in the October 2019 edition of its World Economic Outlook report published on Tuesday.

Bosnia's gross domestic product (GDP) grew by an estimated 3.6% last year, according to the report.

Bosnia's consumer prices are expected to rise by an annual average of 1.1% in 2019 (down from the April estimate for 1.5% growth) and by 1.4% in 2020 (down from 1.6%), compared with annual inflation of 1.4% last year, the IMF said. Consumer price inflation is seen speeding up to 1.9% in 2024, slightly down from the previous 2.0% estimate.

End-year inflation is seen slowing down to 1.2% this year, from 1.6% at the end of 2018, and picking up again to 1.4% at the end of 2020.

The country's current account deficit is forecast at 4.8% of GDP in 2019, and it is expected to further expand to 4.9% of GDP next year, before returning to 4.8% in 2024. Bosnia finished 2018 with a current account deficit of 4.1% of GDP.