dc.contributor.author	World Bank
dc.date.accessioned	2022-10-20T16:21:41Z
dc.date.available	2022-10-20T16:21:41Z
dc.date.issued	2022-10
dc.description.abstract	The economies of the Western Balkans continue to face a turbulent external environment, placing households, firms, and governments under acute stress. Just as the post-COVID recovery of 2021 began to fade and the region returned to a normalized rate of economic growth, the Western Balkan region now faces a new combination of challenges. The war in Ukraine, and the resultant sharp increase and energy prices and slowdown in global growth, is weighing on economic performance in all six economies. Higher energy and food prices have pushed inflation to levels unseen for many years, eroding purchasing power and business confidence. Monetary tightening in advanced economies is pushing up financing costs and weakening external demand. Following a strong rebound in 2021, growth, although still robust, was on a decelerating path in the first half of 2022. In Q1 of 2022, the Western Balkan economies remained resilient overall, supported by sizable policy actions at the EU, euro area, and national levels. First-quarter growth was particularly strong in tourism-based economies and in Serbia. However, growth decelerated in Q2, as countries had to deal with the direct consequences of the war and is projected to continue decelerating in the second half of the year reflecting higher base levels of growth in Q3 and Q4 2021 and the stronger global headwinds.	en
dc.identifier	http://documents.worldbank.org/curated/en/099010110192229651/P17947818ec26c8c17fe014901194ac104a1b5d70a2a
dc.identifier.doi	10.1596/38189
dc.identifier.uri	https://hdl.handle.net/10986/38189
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	WESTERN BALKANS
dc.subject	WAR IN UKRAINE
dc.subject	ENERGY CRISIS
dc.subject	INFLATION
dc.subject	LABOR MARKET
dc.subject	POVERTY REDUCTION
dc.subject	FINANCIAL SECTOR RESILIENCE
dc.subject	EXTERNAL IMBALANCES
dc.subject	GREEN TRANSITION
dc.title	Western Balkans Regular Economic Report, No.22, Fall 2022	en
dc.title.subtitle	Beyond the Crises	en
dc.type	Report	en
dc.type	Rapport	fr
dc.type	Informe	es
dspace.entity.type	Publication
okr.crossref.title	Western Balkans Regular Economic Report, No.22, Fall 2022
okr.date.disclosure	2022-10-20
okr.date.doiregistration	2025-05-07T10:24:58.361878Z
okr.date.lastmodified	2022-10-20T00:00:00Z	en
okr.doctype	Economic & Sector Work
okr.doctype	Economic & Sector Work::Economic Updates and Modeling
okr.docurl	http://documents.worldbank.org/curated/en/099010110192229651/P17947818ec26c8c17fe014901194ac104a1b5d70a2a
okr.guid	099010110192229651
okr.identifier.externaldocumentum	P179478-8ec26c8c-7fe0-4901-94ac-04a1b5d70a2a
okr.identifier.internaldocumentum	33922360
okr.identifier.report	177249
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/099010110192229651/pdf/P17947818ec26c8c17fe014901194ac104a1b5d70a2a.pdf	en
okr.region.administrative	Europe and Central Asia
okr.region.country	Albania
okr.region.country	Bosnia and Herzegovina
okr.region.country	Kosovo
okr.region.country	North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
okr.region.country	Montenegro
okr.region.country	Serbia
okr.topic	Macroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topic	Macroeconomics and Economic Growth::Economic Forecasting
okr.topic	Macroeconomics and Economic Growth::Economic Growth
okr.topic	Energy::Oil & Gas
okr.topic	Energy::Renewable Energy
okr.unit	EFI-ECA-MTI-MacroFiscal-2 (EECM2)

Publication: Western Balkans Regular Economic Report, No.22, Fall 2022: Beyond the Crises

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Western Balkans Regular Economic Report, No.22, Fall 2022: Beyond the Crises