Macroeconomic Forecast Bosnia

July 2006 | Macroeconomic Forecasts

BMI View: The current account deficit fell to a four-year low of BAM222mn (US$142.4mn) in Q106, driven by a 22% y-o-y decline in the trade deficit to BAM1.09bn. This underpins our forecast that there will be a significant improvement in the external sector over the coming years. In addition, as central bank governor Kemal Kozaric highlights, the size of the grey economy (which could be worth as much as 40% of GDP) means that national output is under-estimated, and the trade deficit as a percentage of GDP is inflated as a

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