January 7 (SeeNews) - The World Bank said on Thursday it revised up its forecast for economic growth in the Western Balkans to 2.6% in 2016, up by 0.1 percentage point, buoyed by recovery in the euro area.
In 2017 and 2018 the region's economy is forecast to grow by 3.0% and 3.5% respectively, the World Bank said in a report.
The World Bank also updated its forecast of the region's economic growth in 2015 to 1.9%, up by 0.4 percentage points.
Following are details from the World Bank's report regarding the economic development of the countries in the Western Balkans - Herzegovina, Macedonia, Montenegro, Kosovo and Serbia.
Details of GDP growth forecasts by country follow (in pct change):
Country: |
2015 |
2016 |
2017 |
2018 |
Albania |
2.7 |
3.4 |
3.5 |
3.5 |
Bosnia&Herzegovina |
1.9 |
2.3 |
3.1 |
3.5 |
Macedonia |
3.2 |
3.4 |
3.7 |
3.7 |
Montenegro |
3.4 |
2.9 |
3.0 |
2.9 |
Kosovo |
3.0 |
3.5 |
3.7 |
4.0 |
Serbia |
0.8 |
1.8 |
2.2 |
3.5 |