World Bank: Only 34 percent of Bosnia's working-age population has a job

NEWS 08.10.2019 12:56
Source: AFP

Around 34 percent of Bosnia's working-age population has a job, the World Bank said Tuesday, presenting its Regular Economic Report in Sarajevo.

Regardless of the positive developments in the labour market, only 44 percent of the working-age population of the Western Balkans has a job. When it comes to Bosnia and Herzegovina, this number stands at 34 percent and Kosovo at 30 percent.

According to the Report, Bosnia's economic growth is expected to slow to 3.1 percent in 2019, from 3.6 percent in 2018 mostly due to a decline in net exports.

The World Bank explained that the decline in exports was caused by a slowdown in the EU's economic growth which is a significant trading partner of Bosnia and Herzegovina, followed by lower global aluminium prices, which is the country's main export product, and the loss of markets for some goods due to regional trade disputes.

Also, the World Bank expects Bosnia's fiscal balance to turn into a deficit in 2019, as well as to increase its current account deficit to 4.3 percent after a slight decline in 2018.

The Report noted that risks to Bosnia's outlook are fairly balanced – from the slow economic growth of the EU and from the domestic delay in the establishment of the government.