Hurtić: The recovery of GDP in FBiH has been more and more visible

Hurtić: The recovery of GDP in FBiH has been more and more visible

SARAJEVO, June 1 (FENA) – The recovery of the gross domestic product in the Federation of Bosnia and Herzegovina, in relation to the decline recorded during the pandemic, has been more and more pronounced, said in a statement for FENA Zlatko Hurtić, an advisor to the Prime Minister of the FBiH.

He pointed out that the difference in the amount of GDP in the fourth quarter of 2020 compared to 2019 was 50 percent, and that it is expected that the size of GDP by the end of the third quarter of this year will reach the same level as before the pandemic.

“This is one of the fastest GDP recoveries in the region, especially if we take into account that the FBiH Government achieved this with the lowest level of indebtedness, which indicates that the FBiH Government’s measures to support the recovery of key sectors of the economy have been extremely effective,” explained Hurtić.

He stressed that the recovery in GDP was supported by strong growth in export, which even recorded higher coverage compared to imports compared to the period before the pandemic.

“This led to the growth of employment, and the number of new jobs at the end of the first quarter in 2021 was higher by 16,300 in relation to the period of the pandemic outbreak. Employment growth has ensured stable financing of pension and health funds,” he said.

Hurtić expects that GDP, supported by new measures of the FBiH Government, will grow at a rate of about 3 percent by the end of 2021, which will lead to further employment growth.