Publication:
South East Europe Regular Economic Report, June 2012

dc.contributor.author World Bank
dc.date.accessioned 2012-12-04T22:32:41Z
dc.date.available 2012-12-04T22:32:41Z
dc.date.issued 2012-06
dc.description.abstract After they achieved 2.2 percent growth in 2011, early indications are that the economies of the six countries in South East Europe (the SEE6: Albania, Bosnia and Herzegovina (BIH), Kosovo, FYR Macedonia, Montenegro, and Serbia) are slowing drastically and can expect just 1.1 percent growth in 2012. Economic conditions in the Euro zone are holding back economic activity and depressing government revenues in SEE6 countries. With both public debt and financing pressures high, most countries in the region need to embark on major fiscal consolidation programs if they are to reverse their adverse debt dynamics and avoid financing problems down the road. The good news is that in general the SEE6 financial sectors are still relatively well placed, despite elevated risks and vulnerability to adverse shocks, especially the possibility of contagion if the Greek crisis should intensify. The bad news is social: SEE6 countries have the highest unemployment and poverty rates in Europe. Yet even with the difficult short-term situation, SEE6 countries now have historic opportunity to board the European 'convergence train' and over the long term reduce their per capita income gap with developed European Union (EU) countries. All earlier entrants were able to 'catch up quickly.' In principle, the same 'convergence train' is now pulling into the EU candidate countries in SEE6; but these gains are not automatic, they will materialize only if country policies and reforms facilitate them. The long-term SEE6 structural reform agenda must leverage greater trade and financial integration and reform labor markets and the public sector. en
dc.identifier http://documents.worldbank.org/curated/en/2012/06/16336076/south-east-europe-regular-economic-report
dc.identifier.uri http://hdl.handle.net/10986/11888
dc.language English
dc.language.iso en_US
dc.publisher Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ACCOUNTING
dc.subject ADVERSE EFFECT
dc.subject BALANCE OF PAYMENTS
dc.subject BALANCE SHEET
dc.subject BANK CREDIT
dc.subject BANK DEPOSITS
dc.subject BANK FOR INTERNATIONAL SETTLEMENTS
dc.subject BANK LENDING
dc.subject BANK OF GREECE
dc.subject BANKING SECTOR
dc.subject BANKING SYSTEM
dc.subject BANKING SYSTEMS
dc.subject BANKRUPTCY
dc.subject BANKRUPTCY LAW
dc.subject BANKRUPTCY PROCEDURE
dc.subject BONDS
dc.subject BOOST TO GROWTH
dc.subject BUSINESS ENVIRONMENT
dc.subject CADASTRE
dc.subject CAPITAL ADEQUACY
dc.subject CAPITAL ADEQUACY RATIOS
dc.subject CAPITAL EXPENDITURES
dc.subject CAPITAL INFLOWS
dc.subject CDS
dc.subject CENTRAL BANK
dc.subject CENTRAL BANKS
dc.subject COMMERCIAL BORROWING
dc.subject COMMODITY
dc.subject COMMODITY PRICES
dc.subject CONFIDENCE INDICES
dc.subject CONSOLIDATION
dc.subject CONTRACT ENFORCEMENT
dc.subject CREDIT DEFAULT
dc.subject CREDIT DEFAULT SWAP
dc.subject CREDIT EXPANSION
dc.subject CREDIT INFORMATION
dc.subject CREDIT INFORMATION SYSTEM
dc.subject CREDIT LINE
dc.subject CREDIT RATING
dc.subject CREDITORS
dc.subject CURRENCY
dc.subject CURRENCY BOARD
dc.subject CURRENT ACCOUNT DEFICIT
dc.subject CURRENT ACCOUNT DEFICITS
dc.subject DEBT LEVELS
dc.subject DEBT PAPER
dc.subject DEBT SERVICING
dc.subject DEBT SERVICING COSTS
dc.subject DEMOGRAPHIC
dc.subject DEPOSIT
dc.subject DEPOSITS
dc.subject DIVIDEND
dc.subject DIVIDENDS
dc.subject DOMESTIC BANK
dc.subject DOMESTIC BORROWING
dc.subject DOMESTIC CAPITAL
dc.subject DOMESTIC CAPITAL MARKETS
dc.subject ECONOMIC CRISIS
dc.subject ECONOMIC INTEGRATION
dc.subject EMERGING ECONOMIES
dc.subject EMERGING MARKETS
dc.subject EMPLOYMENT
dc.subject ENFORCEMENT SYSTEM
dc.subject ENTERPRISE PERFORMANCE
dc.subject EQUIPMENT
dc.subject EQUITY INDEX
dc.subject EUROBOND
dc.subject EXCHANGE RATES
dc.subject EXPENDITURE
dc.subject EXPENDITURES
dc.subject EXPORT GROWTH
dc.subject EXPORT MARKET
dc.subject EXPORT PERFORMANCE
dc.subject EXPOSURE
dc.subject EXTERNAL DEBT
dc.subject EXTERNAL DEFICITS
dc.subject EXTERNAL FINANCING
dc.subject FINANCES
dc.subject FINANCIAL CRISES
dc.subject FINANCIAL CRISIS
dc.subject FINANCIAL MARKET
dc.subject FINANCIAL MARKET DEVELOPMENT
dc.subject FINANCIAL SECTOR
dc.subject FINANCIAL STABILITY
dc.subject FINANCING SOURCES
dc.subject FISCAL BURDEN
dc.subject FISCAL CONSOLIDATION
dc.subject FISCAL DEFICIT
dc.subject FISCAL DEFICITS
dc.subject FISCAL POLICIES
dc.subject FISCAL POLICY
dc.subject FIXED EXCHANGE RATES
dc.subject FLEXIBLE EXCHANGE RATE
dc.subject FLEXIBLE EXCHANGE RATE REGIMES
dc.subject FLEXIBLE EXCHANGE RATES
dc.subject FOREIGN BANKS
dc.subject FOREIGN CURRENCY
dc.subject FOREIGN CURRENCY DEPOSITS
dc.subject FOREIGN EXCHANGE
dc.subject FOREIGN EXCHANGE RESERVES
dc.subject FOREIGN FINANCING
dc.subject FOREIGN INVESTMENT
dc.subject FOREIGN PORTFOLIO
dc.subject FOREIGN PORTFOLIO INVESTMENT
dc.subject FUTURE GROWTH
dc.subject GLOBAL BOND
dc.subject GLOBAL ECONOMY
dc.subject GOVERNMENT BORROWING
dc.subject GOVERNMENT DEBT
dc.subject GOVERNMENT EXPENDITURES
dc.subject GOVERNMENT REVENUES
dc.subject GROWTH RATE
dc.subject HOST COUNTRIES
dc.subject INCOME
dc.subject INCOME LEVELS
dc.subject INCOME TAX
dc.subject INCOME TAXES
dc.subject INDIVIDUAL FIRMS
dc.subject INFLATION
dc.subject INFRASTRUCTURE INVESTMENT
dc.subject INSURANCE
dc.subject INTEREST EXPENDITURES
dc.subject INTEREST RATES
dc.subject INTERNATIONAL FINANCIAL INSTITUTIONS
dc.subject INTERNATIONAL FINANCIAL STATISTICS
dc.subject INTERNATIONAL SETTLEMENTS
dc.subject INVESTOR INTEREST
dc.subject ISSUANCE
dc.subject LABOR MARKET
dc.subject LABOR MARKETS
dc.subject LAWS
dc.subject LEGISLATION
dc.subject LEGISLATIVE FRAMEWORK
dc.subject LENDERS
dc.subject LEVEL OF DEBT
dc.subject LIQUIDATION
dc.subject LIQUIDITY
dc.subject LOAN
dc.subject LOAN LOSS PROVISIONS
dc.subject LOAN PROCEEDS
dc.subject MACROECONOMIC ENVIRONMENT
dc.subject MACROECONOMIC MANAGEMENT
dc.subject MACROECONOMIC POLICIES
dc.subject MACROECONOMIC STABILITY
dc.subject MARKET ACCESS
dc.subject MARKET CONDITIONS
dc.subject MARKET DEVELOPMENT
dc.subject MARKET DEVELOPMENTS
dc.subject MARKET EFFICIENCY
dc.subject MARKET PERFORMANCE
dc.subject MATURITY
dc.subject MIGRATION
dc.subject MINISTRIES OF FINANCE
dc.subject MONETARY FUND
dc.subject MONETARY POLICY
dc.subject NATIONAL BANK
dc.subject NON-PERFORMING LOANS
dc.subject NONPERFORMING LOANS
dc.subject NOTARY
dc.subject NPL
dc.subject OIL PRICES
dc.subject OPEN ECONOMIES
dc.subject OUTPUT
dc.subject OVERSIGHT PROCESSES
dc.subject PENSION
dc.subject PENSION REFORM
dc.subject PENSION REFORMS
dc.subject PENSION SYSTEMS
dc.subject PENSIONS
dc.subject POLITICAL ECONOMY
dc.subject PORTFOLIO
dc.subject PORTFOLIO FLOWS
dc.subject PRIVATE CREDIT
dc.subject PRIVATE CREDIT BUREAU
dc.subject PRIVATE FINANCING
dc.subject PRIVATIZATION
dc.subject PRODUCTIVITY
dc.subject PUBLIC DEBT
dc.subject PUBLIC FINANCE
dc.subject PUBLIC FINANCES
dc.subject PUBLIC SPENDING
dc.subject PUBLIC-PRIVATE PARTNERSHIPS
dc.subject RAPID GROWTH
dc.subject REAL ESTATE
dc.subject REAL GROWTH RATES
dc.subject REAL SECTOR
dc.subject REFORM PROGRAM
dc.subject REGIONAL TRADE
dc.subject REGULATORS
dc.subject REMITTANCES
dc.subject REORGANIZATION
dc.subject RETIREMENT
dc.subject RETURN
dc.subject RETURNS
dc.subject RETURNS ON EQUITY
dc.subject RISK PREMIUM
dc.subject RULE OF LAW
dc.subject SELF-REGULATION
dc.subject SETTLEMENT
dc.subject SINGLE MARKET
dc.subject SOCIAL PROTECTION
dc.subject SOVEREIGN DEBT
dc.subject SOVEREIGN DEBT MARKET
dc.subject SOVEREIGN DEBT PROBLEMS
dc.subject STOCK MARKET
dc.subject STOCK MARKET VOLATILITY
dc.subject SUBSIDIARIES
dc.subject SUBSIDIARY
dc.subject SUPERVISORY AUTHORITIES
dc.subject TAX
dc.subject TAX ADMINISTRATION
dc.subject TAX COMPLIANCE
dc.subject TAX RATE
dc.subject TAX RATES
dc.subject TAXATION
dc.subject TRACK RECORD
dc.subject TRADE BALANCE
dc.subject TRADE LIBERALIZATION
dc.subject TRADE RELATIONS
dc.subject TRANSPARENCY
dc.subject UNEMPLOYMENT RATE
dc.subject UNEMPLOYMENT RATES
dc.subject VOLATILE ENVIRONMENT
dc.subject WAGES
dc.title South East Europe Regular Economic Report, June 2012 en
dc.title.alternative Jugoistocna Evropa - Redovni ekonomski izvestaj en
dspace.entity.type Publication
okr.date.disclosure 2012-06-06
okr.doctype Economic & Sector Work :: General Economy, Macroeconomics and Growth Study
okr.doctype Economic & Sector Work
okr.docurl http://documents.worldbank.org/curated/en/2012/06/16336076/south-east-europe-regular-economic-report
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Finance and Markets
okr.globalpractice Trade and Competitiveness
okr.identifier.externaldocumentum 000333037_20120606021856
okr.identifier.internaldocumentum 16336076
okr.identifier.report 69573
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/06/000333037_20120606021856/Rendered/PDF/695730WP0SEERE00Box369256B00PUBLIC0.pdf en
okr.region.administrative Europe and Central Asia
okr.sector Public Administration, Law, and Justice :: General public administration sector
okr.sector Industry and trade :: General industry and trade sector
okr.sector Finance :: General finance sector
okr.sector Agriculture, fishing, and forestry :: General agriculture, fishing and forestry sector
okr.theme Economic management :: Macroeconomic management
okr.theme Economic management :: Analysis of economic growth
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Banks & Banking Reform
okr.topic Private Sector Development :: Emerging Markets
okr.topic Economic Theory & Research
okr.topic Finance and Financial Sector Development :: Access to Finance
okr.topic Macroeconomics and Economic Growth
okr.unit Poverty Reduction/Econ Mngmt (ECSPE)
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