Report

Western Balkans Regular Economic Report No. 13, Spring 2018 : Vulnerabilities Slow Growth

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collection.link.85
https://openknowledge.worldbank.org/handle/10986/2193
collection.name.85
Economic Updates and Modeling
dc.contributor.author
World Bank Group
dc.date.accessioned
2018-04-26T18:28:32Z
dc.date.available
2018-04-26T18:28:32Z
dc.date.issued
2018-04-10
dc.date.lastModified
2020-10-28T10:03:49Z
dc.description.abstract
GDP growth in the Western Balkans slowed from 3.1 percent in 2016 to an estimated 2.4 percent in 2017. Regional growth in 2017 is less optimistic than the 2.6 percent expected when the Fall issue of this report was published. It slowed in Serbia due to a harsh winter and stalled in FYR Macedonia, where the political crisis deterred both public and private investment. Bosnia and Herzegovina (BiH) grew at a rate like the last two years. The dynamism of the smaller economies of Albania, Kosovo, and Montenegro drove regional growth in 2017, with support from higher growth in trading partners, a pickup in commodity prices, and the execution of large investment projects. Bold structural reforms are necessary if the region is to grow sustainably over the medium term. Regional GDP growth is projected to rise from 2.4 percent in 2017 to 3.2 percent in 2018 and 3.5 percent in 2019. Countries are expected to grow faster, pushed up by projected stronger growth in Europe, except for Albania, where moderation is expected as large investment projects are completed, and Montenegro, which is expected to undergo a much-needed fiscal consolidation. Among risks to the outlook are trade protectionism, normalization of interest rates globally, and low potential growth and uncertainty about domestic policy or policy reversals. These risks can be mitigated by rationalizing spending to build fiscal space for growth-enhancing reforms, and by a more strategic approach to boost competitiveness. Policies to lift physical and human capital, expand labor force participation, and improve market institutions should help raise growth potential and reduce inequality.
en
dc.identifier
http://documents.worldbank.org/curated/en/304141523592698571/Vulnerabilities-slow-growth
dc.identifier.uri
http://hdl.handle.net/10986/29728
dc.language
English
dc.publisher
World Bank, 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
JOB CREATION
dc.subject
EXPORTS
dc.subject
REVENUE COLLECTION
dc.subject
FISCAL TRENDS
dc.subject
MONETARY POLICY
dc.subject
ACCESS TO FINANCE
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC OUTLOOK
dc.subject
NON-PERFORMING LOANS
dc.title
Western Balkans Regular Economic Report No. 13, Spring 2018
en
dc.title.subtitle
Vulnerabilities Slow Growth
en
dc.type
Report
en
okr.crossref.title
Western Balkans Regular Economic Report No. 13, Spring 2018
okr.date.disclosure
2018-04-13
okr.doctype
Economic & Sector Work :: Economic Updates and Modeling
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/304141523592698571/Vulnerabilities-slow-growth
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b0858d30b9_1_0
okr.identifier.internaldocumentum
29803012
okr.identifier.report
125191
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/304141523592698571/pdf/125191-WP-PUBLIC-WBRER13-10Apr2018.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
Macedonia, former Yugoslav Republic of
okr.region.country
Montenegro
okr.region.country
Serbia
okr.region.country
North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
okr.region.geographical
Eastern Europe
okr.topic
Macroeconomics and Economic Growth :: Economic Forecasting
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Poverty Reduction :: Employment and Shared Growth
okr.topic
Social Protections and Labor :: Employment and Unemployment
okr.topic
Social Protections and Labor :: Labor Policies
okr.unit
Europe and Central Asia 3 (GMTE3)

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