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Bosnia and Herzegovina; 2017 Article IV Consultation, First Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Extension of the Arrangement, Rephasing of Purchases, and Waiver of Nonobservance of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Bosnia and Herzegovina

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  • International Monetary Fund

Abstract

Macroeconomic conditions in Bosnia and Herzegovina (BiH) are stable but growth has been insufficient for lowering unemployment and achieving income convergence with EU. Internal and external imbalances have been lowered in recent years. Economic activity has begun recovering with the turnaround in Europe and is expected to pick up further over the medium term, driven by public infrastructure investment and implementation of structural reforms. Job creation is key to reducing high unemployment and achieving income convergence with the EU. Domestic politics poses downside risks while external risks are more balanced. Policies should aim to enhance growth potential and address structural weakness, while maintaining economic and financial stability: these include (i) structural reforms to boost growth potential and employment by improving investment climate; (ii) reorienting the composition of public spending from wage bill to capital investments; and (iii) improving financial regulation framework and enhancing financial stability, and (iv) strengthening the country’s single economic space.

Suggested Citation

  • International Monetary Fund, 2018. "Bosnia and Herzegovina; 2017 Article IV Consultation, First Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Extension of the Arrangement, Rephasing of Purchases, a," IMF Staff Country Reports 18/39, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:18/39
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