Publication:
South East Europe Regular Economic Report, June 2012

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-12-04T22:32:41Z
dc.date.available2012-12-04T22:32:41Z
dc.date.issued2012-06
dc.description.abstractAfter 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.identifierhttp://documents.worldbank.org/curated/en/2012/06/16336076/south-east-europe-regular-economic-report
dc.identifier.doihttps://doi.org/10.1596/11888
dc.identifier.urihttps://hdl.handle.net/10986/11888
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectADVERSE EFFECT
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEET
dc.subjectBANK CREDIT
dc.subjectBANK DEPOSITS
dc.subjectBANK FOR INTERNATIONAL SETTLEMENTS
dc.subjectBANK LENDING
dc.subjectBANK OF GREECE
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBANKRUPTCY
dc.subjectBANKRUPTCY LAW
dc.subjectBANKRUPTCY PROCEDURE
dc.subjectBONDS
dc.subjectBOOST TO GROWTH
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCADASTRE
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL ADEQUACY RATIOS
dc.subjectCAPITAL EXPENDITURES
dc.subjectCAPITAL INFLOWS
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOMMERCIAL BORROWING
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICES
dc.subjectCONFIDENCE INDICES
dc.subjectCONSOLIDATION
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAP
dc.subjectCREDIT EXPANSION
dc.subjectCREDIT INFORMATION
dc.subjectCREDIT INFORMATION SYSTEM
dc.subjectCREDIT LINE
dc.subjectCREDIT RATING
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCURRENCY BOARD
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT LEVELS
dc.subjectDEBT PAPER
dc.subjectDEBT SERVICING
dc.subjectDEBT SERVICING COSTS
dc.subjectDEMOGRAPHIC
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDIVIDEND
dc.subjectDIVIDENDS
dc.subjectDOMESTIC BANK
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKETS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC INTEGRATION
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEMPLOYMENT
dc.subjectENFORCEMENT SYSTEM
dc.subjectENTERPRISE PERFORMANCE
dc.subjectEQUIPMENT
dc.subjectEQUITY INDEX
dc.subjectEUROBOND
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT MARKET
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPOSURE
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL DEFICITS
dc.subjectEXTERNAL FINANCING
dc.subjectFINANCES
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKET DEVELOPMENT
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCING SOURCES
dc.subjectFISCAL BURDEN
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED EXCHANGE RATES
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATE REGIMES
dc.subjectFLEXIBLE EXCHANGE RATES
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY DEPOSITS
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN FINANCING
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN PORTFOLIO
dc.subjectFOREIGN PORTFOLIO INVESTMENT
dc.subjectFUTURE GROWTH
dc.subjectGLOBAL BOND
dc.subjectGLOBAL ECONOMY
dc.subjectGOVERNMENT BORROWING
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT REVENUES
dc.subjectGROWTH RATE
dc.subjectHOST COUNTRIES
dc.subjectINCOME
dc.subjectINCOME LEVELS
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINDIVIDUAL FIRMS
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINSURANCE
dc.subjectINTEREST EXPENDITURES
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL SETTLEMENTS
dc.subjectINVESTOR INTEREST
dc.subjectISSUANCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLENDERS
dc.subjectLEVEL OF DEBT
dc.subjectLIQUIDATION
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN LOSS PROVISIONS
dc.subjectLOAN PROCEEDS
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET ACCESS
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DEVELOPMENT
dc.subjectMARKET DEVELOPMENTS
dc.subjectMARKET EFFICIENCY
dc.subjectMARKET PERFORMANCE
dc.subjectMATURITY
dc.subjectMIGRATION
dc.subjectMINISTRIES OF FINANCE
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATIONAL BANK
dc.subjectNON-PERFORMING LOANS
dc.subjectNONPERFORMING LOANS
dc.subjectNOTARY
dc.subjectNPL
dc.subjectOIL PRICES
dc.subjectOPEN ECONOMIES
dc.subjectOUTPUT
dc.subjectOVERSIGHT PROCESSES
dc.subjectPENSION
dc.subjectPENSION REFORM
dc.subjectPENSION REFORMS
dc.subjectPENSION SYSTEMS
dc.subjectPENSIONS
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO FLOWS
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE CREDIT BUREAU
dc.subjectPRIVATE FINANCING
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC-PRIVATE PARTNERSHIPS
dc.subjectRAPID GROWTH
dc.subjectREAL ESTATE
dc.subjectREAL GROWTH RATES
dc.subjectREAL SECTOR
dc.subjectREFORM PROGRAM
dc.subjectREGIONAL TRADE
dc.subjectREGULATORS
dc.subjectREMITTANCES
dc.subjectREORGANIZATION
dc.subjectRETIREMENT
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRETURNS ON EQUITY
dc.subjectRISK PREMIUM
dc.subjectRULE OF LAW
dc.subjectSELF-REGULATION
dc.subjectSETTLEMENT
dc.subjectSINGLE MARKET
dc.subjectSOCIAL PROTECTION
dc.subjectSOVEREIGN DEBT
dc.subjectSOVEREIGN DEBT MARKET
dc.subjectSOVEREIGN DEBT PROBLEMS
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET VOLATILITY
dc.subjectSUBSIDIARIES
dc.subjectSUBSIDIARY
dc.subjectSUPERVISORY AUTHORITIES
dc.subjectTAX
dc.subjectTAX ADMINISTRATION
dc.subjectTAX COMPLIANCE
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAXATION
dc.subjectTRACK RECORD
dc.subjectTRADE BALANCE
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE RELATIONS
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectVOLATILE ENVIRONMENT
dc.subjectWAGES
dc.titleSouth East Europe Regular Economic Report, June 2012en
dc.title.alternativeJugoistocna Evropa - Redovni ekonomski izvestajen
dspace.entity.typePublication
okr.crossref.titleSouth East Europe Regular Economic Report, June 2012
okr.date.disclosure2012-06-06
okr.date.doiregistration2025-05-26T13:45:15.367326Z
okr.date.doiregistration2025-05-27T02:12:57.360407Z
okr.date.doiregistration2025-05-28T02:10:57.162191Z
okr.date.doiregistration2025-05-29T02:11:13.942907Z
okr.date.doiregistration2025-05-30T02:11:30.033897Z
okr.doctypeEconomic & Sector Work::General Economy, Macroeconomics and Growth Study
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2012/06/16336076/south-east-europe-regular-economic-report
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid539741468300546251
okr.guid518451468299122329
okr.identifier.externaldocumentum000333037_20120606021856
okr.identifier.internaldocumentum16336076
okr.identifier.report69573
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/06/000333037_20120606021856/Rendered/PDF/695730WP0SEERE00Box369256B00PUBLIC0.pdfen
okr.region.administrativeEurope and Central Asia
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.sectorIndustry and trade :: General industry and trade sector
okr.sectorFinance :: General finance sector
okr.sectorAgriculture, fishing, and forestry :: General agriculture, fishing and forestry sector
okr.themeEconomic management :: Macroeconomic management
okr.themeEconomic management :: Analysis of economic growth
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks & Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicEconomic Theory & Research
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicMacroeconomics and Economic Growth
okr.unitPoverty Reduction/Econ Mngmt (ECSPE)
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