May 8 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) has lowered its forecast for Bosnia's 2019 economic growth to 3.0% due to continuing political uncertainties, the bank said on Wednesday.
"The 2019 projection has been revised downwards by 0.5 percentage points from November 2018 report due to delays in the formation of new governments after the October 2018 elections and with the IMF programme," the EBRD said in its May 2019 Regional Economic Prospects report presented at the bank's annual meeting taking place in Sarajevo.
The EBRD said that the projected growth this year might moderate further, considering the uncertainties about growth in the eurozone and Bosnia'sreform agenda related to improvements in business climate and standards of governance.
The advancement of the country’s EU approximation agenda will also weigh on the overall economic performance, the bank noted.
The EBRD sees the Bosnian economy growing 3.0% in 2020, too.
Bosnia's GDP growth slowed down to 3.1% in 2018 from 3.2% a year earlier.