IMF Staff Country Reports

Bosnia and Herzegovina: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bosnia and Herzegovina

September 7, 2023

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Format: Chicago

International Monetary Fund. European Dept. "Bosnia and Herzegovina: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bosnia and Herzegovina", IMF Staff Country Reports 2023, 324 (2023), accessed November 21, 2024, https://0-doi-org.library.svsu.edu/10.5089/9798400253270.002

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Summary

The 2023 Article IV Consultation highlights that Russia’s war in Ukraine continues to place significant headwinds on the European economy, with implications for Bosnia and Herzegovina (BiH). With a further slowing of activity in Europe and declining commodity prices, growth is projected to decelerate to 2 percent in 2023 and inflation to 6 percent. Growth will remain low at 3 percent and inflation will only gradually return to 2 percent in outer years. Downside risks are high and include a possible abrupt slowdown in Europe, an intensification of domestic political tensions, and the materialization of financial risks. Strengthening public enterprise oversight and governance, improving the business environment, and digitalizing the economy are key to accelerating private sector led growth. An immediate priority is to adopt a new anti-money laundering law. Urgent reforms are also needed to enhance corruption prevention and enforcement efforts. Increased efforts are needed to prepare for the introduction of the EU’s Carbon Border Adjustment Mechanism and to transition away from coal to green energy.

Subject: Capital spending, Expenditure, Financial institutions, International organization, Labor, Loans, Monetary policy, Public debt, Wages

Keywords: Authorities of Bosnia and Herzegovina, Bosnia and Herzegovina parliament, Capital spending, Core inflation, Council of ministers Kristo, Coverage ratio, Europe, Global, Loans, Wages

Publication Details

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