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BOSNIA AND HERZEGOVINA: BEFORE AND DURING THE CRISIS Dr Fikret Čaušević Regional Cooperation Council Sarajevo, Holiday Inn.

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Presentation on theme: "BOSNIA AND HERZEGOVINA: BEFORE AND DURING THE CRISIS Dr Fikret Čaušević Regional Cooperation Council Sarajevo, Holiday Inn."— Presentation transcript:

1 BOSNIA AND HERZEGOVINA: BEFORE AND DURING THE CRISIS Dr Fikret Čaušević Regional Cooperation Council Sarajevo, Holiday Inn Hotel, 24 February 2010

2 FINANCIAL SECTOR: COMMERCIAL BANKING IN BiH AS PART OF EU MARKET BiH is already integrated into the European banking system Most international standards relating to banking regulations are already in place in BiH Except of integration of the two entities banking agencies into a single or the state-level agency Foreign banks have contributed to the development of commercial banking in BiH – both in terms of technological improvement and by decreasing interest rates in the period The year 2009 has seen an increase in average interest rates on loans to enterprises and citizens

3 GROSS DOMESTIC PRODUCT AND ASSETS OF THE BANKING SECTOR ( millions of KM )

4 BANKING SECTOR ASSETS AND CREDITS TO ENTERPRISES AND TO HOUSEHOLDS IN BOSNIA AND HERZEGOVINA Year Assets of banks Credit to enterprises Credit to households GDP (mill.KM) Millons KM In % GDP Millions KM In % GDP Millions KM In % GDP , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,720

5 MERCHANDISE EXPORT, IMPORT, TRADE BALANCE AND TRADE VOLUME OF BOSNIA AND HERZEGOVINA millions of KM

6 MERCHANDISE TRADE OF BOSNIA AND HERZEGOVINA - milions KM YEARImportExportTrade BalanceTrade Volume 20002,2656,583- 4,3188, ,0898,048- 5,95810, ,8199,306- 6,48712, ,16411,389- 6,22516, ,93713,899- 7,96219, ,88816,314- 9,42623, ,53012,348- 6,81817,878

7 CHANGES IN CREDIT ACTIVITY: THE BANKING SECTOR OF BOSNIA AND HERZEGOVINA (millions of KM)

8 CHANGES IN CREDIT ACTIVITY AND TRADE DEFICIT OF BOSNIA AND HERZEGOVINA (millions of KM) Period Change in credit to enterprises Change in credit to households Change in trade balance 2004/ / / / ,079+ 1,274+ 1, / ,591+ 1,102+ 1, / ,610

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10 TRADE DEFICIT, CURRENT ACCOUNT DEFICIT AND COMPETITIVENESS OF BOSNIA AND HERZEGOVINA Year Trade deficit (% GDP) Current Acc.def. (% GDP) Year Ranking in GCR (BiH / number of countries included) / / / / / 133

11 EXTERNAL DEBTS OF SEE COUNTRIES (EBRD: Transition Report 2008) Country External debt / GDP (in % of GDP) External debt / Exports of goods and services Albania Bosnia and Herzegovina Bulgaria Croatia FYR Macedonia Romania Serbia Slovenia

12 EXTERNAL DEBT OF CEE COUNTRIES AND BiH (EBRD: Transition Report 2008) Country External debt / GDP (in % of GDP) External debt / Exports of goods and services Bosnia and Herzegovina Estonia Hungary Latvia Lithuania Poland Russia Slovak Republic Slovenia

13 WEALTH COEFFICIENTS OF SOUTH-EAST EUROPE COUNTRIES C O U N T R Y / 1990 (in %) 2007/ 2000 (in %) 2007/ 1990 (in %) Albania Bosnia and Herzegovina Bulgaria Croatia FYR Macedonia Romania Serbia Slovenia

14 THE MOST PROBLEMATIC FACTORS - DOING BUSINESS IN BiH ACCORDING TO THE WORLD COMPETITIVENESS REPORT Inefficient government bureaucracy Policy instability Corruption Government instability Tax rates Crime and theft Tax regulations Access to financing Inadequate supply of infrastructure

15 EASE OF DOING BUSINESS IN BOSNIA AND HERZEGOVINA DB 2010DB 2009DB 2008 Doing Business Starting a Business Construction Permits Emloying Workers Registering Property Getting Credit Protecting Investors Paying Taxes Trading Across Borders Enforcing Contracts

16 EASE OF DOING BUSINESS IN CROATIA, SEBIA AND FYR MACEDONIA: DOING BUSINES 2010 – IBRD, WB CROATIASERBIAMACEDONIA Doing Business Starting a Business Construction Permits Emloying Workers Registering Property Getting Credit Protecting Investors Paying Taxes Trading Across Borders Enforcing Contracts


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