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UniCredit maintains Bosnia's 2024 GDP growth f'cast at 2.5%

Jul 10, 2024, 1:57:31 PMArticle by Dragana Petrushevska
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July 10 (SeeNews) - Italian financial group UniCredit said it expects Bosnia and Herzegovina's economy to grow by 2.5% this year, maintaining its forecast from March, following an estimated 1.6% expansion in 2023.

UniCredit maintains Bosnia's 2024 GDP growth f'cast at 2.5%
Sarajevo. Source: The tourism association of Canton Sarajevo

Growth in 2024 will likely be driven by a recovery in private consumption, as real income recovers, reflecting disinflation, wage growth and the inflow of remittances, UniCredit said in its CEE Quarterly report published at the end of last month.

"We also expect to see more of a contribution from public investment, although there is a risk of political stalemate, which may hinder decision making linked to such spending. Support should also come from net external demand as the eurozone economy improves," the bank said.

In 2025, Bosnia's economic growth should accelerate to 3%, UniCredit said.

Average consumer price inflation should hover in the 2-3% range in 2024 and 2025.

The fiscal deficit will likely remain contained at 1% of GDP in 2024 and 2025.

The opening of EU-accession negotiations will provide an opportunity for progress to be made on reforms, but friction between entities on some questions might present an obstacle to the full exploitation of such an opportunity, UniCredit said.

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