Bosnia and Herzegovina Country Report - May, 2016

June 15, 2016

This report covers the main macroeconomic releases from May 6 until June 5, 2016 as well as the financial and political events that took place in Bosnia during this period.
The International Monetary Fund (IMF) said on May 24 it has reached an agreement with Bosnia & Herzegovina on new 36-month deal, supported by a SDR443.04mn (about €550mn) Extended Fund Facility (EFF).
The European Bank for Reconstruction and Development (EBRD) confirmed its 2016 economic growth projection for Bosnia & Herzegovina at 3.0%, slighty below the 3.2% recorded in 2015 in the May edition of its Regional Economic Prospects. The economy should benefit from expected signing of a new loan deal with the International Monetary Fund (IMF).
Bosnia & Herzegovina’s statistics office will announce the results of the 2013 census by the July 1 deadline as the state-level statistics office has approved a unified methodology, clearing the main hurdle for the much delayed publication of the results
A total of 76% of Bosnians support membership in the European Union, according to an opinion poll announced by Bosnia & Herzegovina’s government. Although this shows that the majority of citizens would like to see the country in the bloc, the percentage in favour fell slightly compared to a year ago, when 78% of all Bosnians supported membership.
The management of Bosnia & Herzegovina’s state-owned public broadcaster BHRT said on May 30 it will temporarily shut down all services on June 30 as it cannot collect BAM25mn (€12.8mn) debt from the broadcasters of Bosnia’s two entities, the Muslim-Croat Federation and Republika Srpska.

Key points:
• CPI deflation slightly eased to 1.6% y/y in April
• The working-day adjusted industrial production increased 3.8% y/y in April
• The foreign trade gap narrowed 1.9% y/y to BAM2.0bn (€1.0bn) in January-April

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