BOSNIA'S ECONOMIC GROWTH TO SLOW DOWN TO 4,5 PER CENT

SARAJEVO, Bosnia (November 26,2008) - In its 2008 Transition Report released yesterday, the European Bank for Reconstruction and Development (EBRD) has made an assessment that in the current year the Bosnian GDP growth rate would drop to six per cent (from 6.8 per cent in 2007), and further to 4.5 per cent in the following year.

The EBRD expects slower economic growth in all other transitional countries in the southeastern Europe, as a result of the global economic crisis and instability in the financial market.

The bank urges all the countries in which is has invested to make the stabilization of their banking systems a priority.

EBRD’s economist Peter Sanfey said they are still convinced in mid-term growth perspective for Bosnia, but reminded that there are numerous reform tasks before the Bosnian government, such as public administration reform, improving the business climate and maintaining macroeconomic stability.
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