prijava
SARAJEVO, April 16 (FENA) - The measures taken by the Government of the Federation of BiH are estimated to be perhaps even slightly delayed. It is likely that if we had economic and development policies in the past, we would have been more resilient to this crisis. But, in our case, we needed a great effort and a lot had to be done to come up with this proposal for countering the crisis, stated the UNSA Faculty of Economics professor, Anto Domazet said at a press conference of representatives of FBiH institutions.
According to him, "we are now in an economic downturn, and if that economic downturn is recorded in the next two quarters, we will be in a recession."
"If we continue to decline further after that recession, we will go into depression period. Economic depression is a state of a long-term decline in all economic activities of gross domestic product and it ends with growth when a new cycle of economic growth begins. So we can talk about the impending recession and we are likely to have a recession as there will be an economic downturn in the next two quarters," Domazet said.
What is good is that citizens, employers and workers have been given information on what to expect in the coming period.
"It can be comforting for some, disappointing for some and upsetting for others. However, the key effect we should expect is to improve consumer optimism and to improve business optimism, especially for employers who will now have a clear situation as to what they expect from these measures," he said.
Domazet pointed out that this is a model that is perfectly suited to this situation, and practice applied at the level of countries of the European Union, which is massive fiscal expansion, supporting the demand to balance supply and demand as soon as possible.
He pointed out that there was a lack of vertical coordination in the state structure regarding economic governance.
He is of the opinion that the state level, the level of institutions of Bosnia and Herzegovina, the Council of Ministers do not give the necessary signals for action at the lower levels.
(FENA) S. R.
