News in English     | 01.06.2023. 12:01 |

The CBBH expects significantly stronger economic activity in the medium term

FENA Darinka Mitrović, Photo: Hazim Aljović

SARAJEVO, June 1 (FENA) - In the latest projections, the Central Bank of Bosnia and Herzegovina (CBBH) expects significantly stronger economic activity in the medium term, compared to the previous round of projections, but also stronger inflationary pressures in 2023.

In this round of projections, the trends in key macroeconomic variables are unchanged compared to the projections from November 2022.

The projection of the growth of economic activity in BH in 2023 has been corrected slightly upwards, to the level of 1.6%, although it still indicates a significant slowdown in growth, compared to the multi-year average. We currently project real economic growth in 2024 at 3.2%.

In 2023, we project inflation of 7.7%, which is 1.6 percentage points higher than the projection from November 2022.

A key reason for the upward revision is the continued rise in food prices and core inflation. Already from the second quarter, we expect a gradual weakening of inflationary pressures until the end of the projection period.

We continue to emphasize that the economy is not in a classic business cycle and that the estimated values of real GDP, its components, and other macroeconomic variables are exposed to an extremely high degree of uncertainty, stated the CBBH. 

(FENA) S. R.

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