Publication:
South East Europe Regular Economic Report, January 2015 : Coping with Floods, Strengthening Growth

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2015-01-20T23:41:22Z
dc.date.available2015-01-20T23:41:22Z
dc.date.issued2015-01
dc.description.abstractCoping with Floods, Strengthening Growth, from the South East Europe Regular Economic Report explains that South East Europe s (SEE6) s economy is estimated to have stagnated in 2014 on the back of flood-induced contraction in Serbia and a sharp slowdown in Bosnia and Herzegovina and Montenegro. The regional economy grew 0.2 percent in 2014, insufficient to improve living standards or to make a dent in the region s high unemployment rate. External demand for SEE6 exports was a key positive contributor to economic growth in 2014 as the region s exports gained market share, despite the weak Eurozone performance and disappointing global recovery. Domestic demand remained subdued because of delayed or reduced public and private investments and weak consumption. Devastating floods in large parts of the region further weighed on the SEE6 economic activity in 2014. The weak regional economic performance masks notable differences among the SEE6 countries. In 2014, the Serbian economy is estimated to have contracted by 2 percent for a third time since the global crisis and Bosnia and Herzegovina is stagnating. Economic growth rates in Kosovo and Montenegro are estimated to have moderated in 2014. Only Albania and FYR Macedonia showed signs of a more sustained recovery on the back of increasing exports, particularly in the second half of the year. The floods were the main culprit behind the weak domestic demand and the overall sluggish economic performance in SEE6. Robust exports only partially offset the SEE6 s weak domestic demand, leaving external imbalances in vulnerability. The average fiscal deficit in SEE6 is estimated to have increased by 0.4 percent of GDP to 4.2 percent in 2014 due to faster growth in expenditures than revenues. The SEE6 region as a whole is projected to grow 1.3 percent in 2015, supported by a slowly recovering external demand, especially in Europe, and stabilization of international energy prices at around current levels.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/01/23837882/coping-floods-strengthening-growth
dc.identifier.doi10.1596/21314
dc.identifier.urihttps://hdl.handle.net/10986/21314
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesSouth east europe regular economic report;no. 7
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAGRICULTURAL COMMODITY
dc.subjectAMOUNT OF CAPITAL
dc.subjectARREARS
dc.subjectASSET QUALITY
dc.subjectAUCTION
dc.subjectAVERAGE DEBT
dc.subjectBALANCE SHEETS
dc.subjectBANK ASSET
dc.subjectBANK LENDING
dc.subjectBANK PROFITABILITY
dc.subjectBANK RECAPITALIZATION
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR ASSETS
dc.subjectBANKING SECTORS
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBASIS POINTS
dc.subjectBOOK VALUE
dc.subjectBROAD MONEY
dc.subjectBUSINESS CONFIDENCE
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL EXPENDITURES
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL STOCKS
dc.subjectCAPITALIZATION
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOLLATERAL
dc.subjectCOMMODITY PRICES
dc.subjectCONSOLIDATION
dc.subjectCORRUPTION
dc.subjectCREDIT GROWTH
dc.subjectCREDIT LINES
dc.subjectCREDITORS
dc.subjectCURRENCY BOARD
dc.subjectCURRENCY BOARD ARRANGEMENT
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT
dc.subjectDEBT ACCUMULATION
dc.subjectDEBT ISSUANCE
dc.subjectDEBT LEVELS
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SOURCE
dc.subjectDEMAND FOR CREDIT
dc.subjectDEMAND-SIDE FACTORS
dc.subjectDEPOSIT
dc.subjectDEPOSIT MOBILIZATION
dc.subjectDEPOSITS
dc.subjectDERIVATIVES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDIRECT INVESTMENT
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC DEBT
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICIES
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEMPLOYMENT
dc.subjectEQUIPMENT
dc.subjectEUROBOND
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORTERS
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCING SOURCES
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFOREIGN BANK
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCIES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVE
dc.subjectFOREIGN INVESTORS
dc.subjectGOVERNMENT FINANCING
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHIGH-YIELD BOND
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectHOST COUNTRIES
dc.subjectHOUSEHOLD INCOMES
dc.subjectHOUSEHOLDS
dc.subjectHOUSING
dc.subjectHUMAN CAPITAL
dc.subjectINFLATION
dc.subjectINFLATIONS
dc.subjectINSOLVENCY REGIME
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE MARKETS
dc.subjectINTEREST EXPENDITURES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BOND
dc.subjectINTERNATIONAL BOND MARKETS
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL INTEREST
dc.subjectINTERNATIONAL INTEREST PAYMENT
dc.subjectINTERNATIONAL SETTLEMENTS
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISIONS
dc.subjectISSUANCE
dc.subjectJOB CREATION
dc.subjectLABOR COSTS
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL FRAMEWORKS
dc.subjectLEGAL SYSTEM
dc.subjectLEGISLATIVE FRAMEWORKS
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY RATIO
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOAN-TO-DEPOSIT RATIOS
dc.subjectLOCAL CURRENCY
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMICS
dc.subjectMARKET CONDITIONS
dc.subjectMARKET CONFIDENCE
dc.subjectMARKET REFORMS
dc.subjectMARKET SHARE
dc.subjectMATURITIES
dc.subjectMIGRATION
dc.subjectMINIMUM WAGE
dc.subjectMINISTRIES OF FINANCE
dc.subjectMINORITY INVESTORS
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectNATIONAL BANKS
dc.subjectNATURAL DISASTERS
dc.subjectNEW MARKETS
dc.subjectNON-PERFORMING LOANS
dc.subjectNONPERFORMING LOANS
dc.subjectNPL
dc.subjectOIL PRICES
dc.subjectPAYMENT OBLIGATIONS
dc.subjectPENSION
dc.subjectPOLITICAL UNCERTAINTY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPORTFOLIO QUALITY
dc.subjectPORTFOLIOS
dc.subjectPRIVATE EQUITY
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATIZATION
dc.subjectPRODUCTION CAPACITIES
dc.subjectPRODUCTIVE INVESTMENT
dc.subjectPRODUCTIVITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SPENDING
dc.subjectRATES OF RETURN
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectREAL SECTOR
dc.subjectRECESSION
dc.subjectREGULATORY FRAMEWORKS
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectRESERVE
dc.subjectRESERVE ASSETS
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURN ON ASSETS
dc.subjectRETURNS
dc.subjectRISK MANAGEMENT
dc.subjectRISK PROFILES
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSHORT-TERM DEBT
dc.subjectSUBSIDIARIES
dc.subjectSUBSIDIARY
dc.subjectSUPERVISORY AUTHORITIES
dc.subjectSURCHARGES
dc.subjectTAX
dc.subjectTAX LAWS
dc.subjectTELECOMMUNICATIONS
dc.subjectTRADE BALANCE
dc.subjectTRADING
dc.subjectTRANSPORT
dc.subjectUNEMPLOYMENT
dc.subjectVALUATIONS
dc.subjectWAGES
dc.titleSouth East Europe Regular Economic Report, January 2015 : Coping with Floods, Strengthening Growthen
dspace.entity.typePublication
okr.date.disclosure2015-01-20
okr.date.doiregistration2025-05-07T11:02:44.552107Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2015/01/23837882/coping-floods-strengthening-growth
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.guid687931468093562826
okr.identifier.externaldocumentum000477144_20150120112634
okr.identifier.internaldocumentum23837882
okr.identifier.report93611
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/01/20/000477144_20150120112634/Rendered/PDF/936110REVISED.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryAlbania
okr.region.countryBosnia and Herzegovina
okr.region.countryKosovo
okr.region.countryMacedonia, former Yugoslav Republic of
okr.region.countryMontenegro
okr.region.countrySerbia
okr.region.countryNorth Macedonia
okr.region.geographicalEastern Europe
okr.sectorPublic Administration, Law, and Justice :: Central government administration
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.sectorFinance :: Banking
okr.sectorIndustry and trade
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themeEconomic management :: Macroeconomic management
okr.themeTrade and integration :: Export development and competitiveness
okr.themeSocial dev/gender/inclusion :: Other social development
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicBanks and Banking Reform
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicMacroeconomics and Economic Growth
okr.unitMacro & Fiscal Mgmt - GP (GMFDR)
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