EBRD cuts Bosnias 2012 GDP forecast to 0.4%.

By bne IntelliNews May 21, 2012
The European Bank for Reconstruction and Development said it has cut its 2012 GDP forecast for Bosnia to 0.4% from an earlier 0.5% made in January. The revision is part of the latest edition of EBRDs regional economic forecast overview. According to it, in Southeast Europe only Serbia will perform worse than Bosnia, growing only 0.1% this year, while Montenegro is expected to match Bosnias 0.4% expansion. The EBRD said that the long-awaited formation of a state-level government in Bosnia earlier this year and the adoption of the 2011 and 2012 budget bills [though the 2012 one is still pending a parliament approval] have enabled the country to resume IFI funding. Bosnia might benefit from a continued strong demand for its main export products like metals and timber in the short-term, which could compensate for weaknesses elsewhere in the economy, the EBRD said. Yet, the downturn in the eurozone, Bosnias key partner, could have negative implications on its outlook.
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