World Bank
December 10, 2013

Six countries from Southeast Europe have in the first half of 2013 come out of the recession, this is primarily owed to an increase in exports made in this period, announced the World Bank in its semi-annual report.

The six countries include Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, Macedonia and Albania.

The report says that the average real income growth in the six states, rose from a negative 0.7 % in 2012 to 1.8 % in the first half of this year.

A growth rate in unemployment was recorded in Albania, Montenegro and Macedonia, whilst Bosnia and Herzegovina was rated as “poor” in this area.

World Bank economist in charge of BH, Simon Davis, said that the World Bank is moderately optimistic about BH’s future economic growth.

“This optimism is based on the assumption that necessary reforms will take place in relation to redirecting public spending to areas that support economic growth and the improvement of the business environment, which in our opinion, is necessary for the creation of jobs”, said Davis.

He said that the World Bank forecasts a growth rate of 0.8% in 2013 for BH, since exports from BH grew almost every month this year compared to the same period in 2012.