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Economic report

The Western Balkans region is expected to enter a recession in 2020, due to impacts of the COVID-19 (Coronavirus) pandemic.

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Growth projections in the Western Balkans region for 2018 have been revised upward and are now estimated to reach 3.5%. Growth was stimulated by higher public investment and consumption, while countries with higher growth rates boosted them mostly by investment and exports. Over 90,000 jobs were created in the first half of 2018, with new employment mostly in industry and services.

 

Kosovo and Albania are expected to grow at 4% this year. At 3.8%, Montenegro’s growth is projected to be 1 percentage point higher, although still lower than last year. Growth in Bosnia and Herzegovina continues to be stable at an estimated 3.2%. Serbia’s economy has rebounded to 3.5% growth after last year’s weather-related slowdown. North Macedonia’s growth also rebounded to 2.5%, as investor confidence was Restored.

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Experts

Linda Van Gelder

Country Director, Western Balkans

Emanuel Salinas

Country Manager for Bosnia and Herzegovina, and Montenegro

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Economic Update

Western Balkans Regular Economic Report

This is a semi-annual report on recent economic developments and economic outlook in the Western Balkans.

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Country Partnership Strategy

The latest strategy for working with the country outlines key development priorities for the period of 2016-2020.

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Featured Project

BiH Employment Support Program

What does the future of the BiH labor market hold? Read in this summary.

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Regional Economy

The Western Balkans Labor Market

Countries in the region have created roughly 300,000 jobs since 2010. But more needs to be done to address high unemployment.

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