Publication:
From Double-Dip Recession to Fragile Recovery

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-01-10T20:16:53Z
dc.date.available2014-01-10T20:16:53Z
dc.date.issued2013-06-18
dc.description.abstractAfter the double-dip recession, as a group the six South East European countries (SEE6)- Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia-are now making a fragile recovery. Last year the recession in the Eurozone had adverse impact on external demand and Foreign Direct Investment (FDI) in SEE6 and the severe winter and a summer drought crippled agriculture and affected trade, energy, and economic activity overall. However, the recovery in SEE6 is still tentative. In some countries nonperforming loans, sluggish credit recovery, continued deleveraging, and fiscal consolidation are exerting a drag and recovery in SEE6 is unlikely to accelerate as long as the Eurozone remains in recession. The SEE6 region is projected to grow 1.7 percent in 2013, signaling the end of the 2012 double-dip recession. Even though growth will in general be fragile, it will be on the upswing in all six countries. Kosovo again is expected to have the highest growth (3.1 percent), thanks to major public investments and a significant inflow of remittances. Against the backdrop of this tentative and fragile recovery, SEE6 countries should, as argued in the last report, intensify their efforts to reform structural areas. Fiscal consolidation efforts should become easier now that the output and revenue outlook is improving. The investment climate needs to be improved substantially, especially in the main areas of weaknesses: construction permits and licenses, barriers to entrepreneurship, and skills and infrastructure. One of the main worries in this nascent recovery is that SEE6 economies are plagued by high unemployment, especially youth unemployment, and they are not creating jobs fast enough to absorb new entrants into the labor force. Emigration continues as the current environment for doing business exacerbates the difficult labor market conditions.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/06/17872878/double-dip-recession-fragile-recovery
dc.identifier.doi10.1596/16559
dc.identifier.urihttps://hdl.handle.net/10986/16559
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.relation.ispartofseriesSouth East Europe Regular Economic Report;No. 4
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCESS TO INFORMATION
dc.subjectACCESS TO JOBS
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectARREARS
dc.subjectASSET OWNERSHIP
dc.subjectBANK DEPOSITS
dc.subjectBANK LENDING
dc.subjectBANK OF GREECE
dc.subjectBANKING INSTITUTIONS
dc.subjectBANKING REFORM
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR ASSETS
dc.subjectBANKS
dc.subjectBENEFICIARIES
dc.subjectBOND
dc.subjectBUSINESS ENTRY
dc.subjectBUSINESS STARTUP
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL ADEQUACY RATIOS
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL MARKETS
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK BILLS
dc.subjectCENTRAL BANKS
dc.subjectCLAIMANTS
dc.subjectCOMMERCIAL BANKS
dc.subjectCONSOLIDATION
dc.subjectCORRUPTION
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAP
dc.subjectCREDIT GROWTH
dc.subjectCREDIT POLICIES
dc.subjectCREDIT RATINGS
dc.subjectCREDIT SUPPORT
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT POLICIES
dc.subjectDEBTS
dc.subjectDEMAND-SIDE FACTORS
dc.subjectDEMOGRAPHIC FACTORS
dc.subjectDEMOGRAPHIC PROFILES
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISABLED
dc.subjectDISBURSEMENTS
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC CURRENCIES
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC DEBT
dc.subjectEARNINGS
dc.subjectECONOMIC ACTIVITIES
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CLIMATE
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OPPORTUNITY
dc.subjectEMERGING MARKETS
dc.subjectEMPLOYEE
dc.subjectEMPLOYERS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT OPPORTUNITIES
dc.subjectENTREPRENEUR
dc.subjectENTREPRENEURS
dc.subjectENTREPRENEURSHIP
dc.subjectETHNIC MINORITIES
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT PERFORMANCE
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL MIGRATION
dc.subjectEXTREME POVERTY
dc.subjectFACTORING
dc.subjectFEDERAL RESERVE
dc.subjectFINANCES
dc.subjectFINANCIAL CAPITAL
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR REFORMS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICY
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY DEBT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN FINANCING
dc.subjectFORMAL WORKFORCE
dc.subjectGENDER
dc.subjectGENDER EQUALITY
dc.subjectGENDER GAPS
dc.subjectGOVERNMENT DEBT
dc.subjectGROUP OF FIRMS
dc.subjectHOME OWNERSHIP
dc.subjectHOST COUNTRY
dc.subjectHOUSEHOLDS
dc.subjectHOUSING
dc.subjectHUMAN DEVELOPMENT
dc.subjectILLITERACY
dc.subjectIMPEDIMENTS TO BUSINESS
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME GROWTH
dc.subjectINCOME LEVELS
dc.subjectINCOME TAX
dc.subjectINDEBTEDNESS
dc.subjectINEQUALITY
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINFORMAL WORKERS
dc.subjectINSTITUTIONAL BARRIERS
dc.subjectINSTITUTIONAL REFORMS
dc.subjectINSURANCE AGENCIES
dc.subjectINSURANCE PROTECTION
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTEREST RATES ON LOANS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BONDS
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL MARKETS
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT PLANS
dc.subjectINVESTOR CONFIDENCE
dc.subjectISSUANCE
dc.subjectJOB CREATION
dc.subjectJOB OPPORTUNITIES
dc.subjectLABOR COSTS
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLABOR MOBILITY
dc.subjectLAWS
dc.subjectLEGAL SYSTEMS
dc.subjectLENDING CONDITIONS
dc.subjectLIBERALIZATION OF TRADE
dc.subjectLIMITED ACCESS
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOAN MARKETS
dc.subjectLOAN QUALITY
dc.subjectLOAN-TO-DEPOSIT RATIOS
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL ECONOMY
dc.subjectLOCAL MARKET
dc.subjectLONG-TERM EXTERNAL DEBT
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DATA
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMICRO ENTERPRISES
dc.subjectMICRO-DATA
dc.subjectMIGRATION
dc.subjectMINIMUM WAGE
dc.subjectMINISTRIES OF FINANCE
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATIONAL BANK
dc.subjectNATIONAL BANKS
dc.subjectNEW BUSINESSES
dc.subjectNEW ENTRANTS
dc.subjectNEW MARKETS
dc.subjectNONPERFORMING LOANS
dc.subjectNPL
dc.subjectPERSONAL INCOME
dc.subjectPOLICY DESIGN
dc.subjectPOLITICAL UNCERTAINTY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIOS
dc.subjectPRIVATE BANK
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVE INVESTMENT
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT INSTRUMENTS
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC POLICIES
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectREAL EXCHANGE RATES
dc.subjectRECAPITALIZATION
dc.subjectRECEIPTS
dc.subjectRECESSION
dc.subjectREGIONAL BANKS
dc.subjectREGISTRATION REQUIREMENTS
dc.subjectREMITTANCES
dc.subjectRESIDENTIAL MORTGAGES
dc.subjectRETURN
dc.subjectRETURN ON EQUITY
dc.subjectRETURNS
dc.subjectSAFETY NET
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSELF-EMPLOYMENT
dc.subjectSHORT-TERM DEBT
dc.subjectSOCIAL SECURITY
dc.subjectSOVEREIGN DEBT
dc.subjectSTART-UPS
dc.subjectSTATE GUARANTEES
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSUBSIDIARY
dc.subjectT-BILLS
dc.subjectT-BONDS
dc.subjectTAX BURDEN
dc.subjectTAX BURDENS
dc.subjectTAX CREDITS
dc.subjectTAX SYSTEM
dc.subjectTAXATION
dc.subjectTRADE BALANCES
dc.subjectTRADING
dc.subjectUNEMPLOYMENT
dc.subjectURBAN AREAS
dc.subjectURBAN DEVELOPMENT
dc.subjectVULNERABLE GROUPS
dc.subjectWAGES
dc.subjectWELFARE DEPENDENCE
dc.titleFrom Double-Dip Recession to Fragile Recoveryen
dc.title.alternativeNga recesioni i dyfishte tek rimekembja e brishte Od drugog talasa recesi je ka slabom oporavku Od dvostruke recesije do slabog oporavkaen
dspace.entity.typePublication
okr.date.disclosure2013-06-17
okr.date.doiregistration2025-05-07T08:43:48.886478Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2013/06/17872878/double-dip-recession-fragile-recovery
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid234351468303019393
okr.guid257521468299122638
okr.guid986461468101938633
okr.guid223851468303019710
okr.guid319251468300547281
okr.identifier.externaldocumentum000356161_20130617141957
okr.identifier.internaldocumentum17872878
okr.identifier.report78505
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/06/17/000356161_20130617141957/Rendered/PDF/785050NWP0Box30ith0Albania0update0.pdfen
okr.region.administrativeEurope and Central Asia
okr.sectorBanking,General public administration sector,General industry and trade sector,Central government administration,Capital markets
okr.sectorFinance,Industry and trade,Public Administration, Law, and Justice
okr.themeEconomic management :: Analysis of economic growth
okr.themeSocial Inclusion
okr.themeEconomic management :: Macroeconomic management
okr.themeTrade and integration :: Export development and competitiveness
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themeSocial dev/gender/inclusion
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicBanks and Banking Reform
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.unitMacroeconomics 2 (ECSP2)
okr.volume1 of 1
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