Novalić: The economic indicators for 2021 have been very good

Novalić: The economic indicators for 2021 have been very good

STOLAC, September 1 (FENA) – The FBiH Prime Minister Fadil Novalić commented on the economic situation in the Federation of BiH, emphasizing that the economic indicators in 2021 have been extremely good.

“When it comes to the economic indicators that we send to Eurostat, which are the GDP and the consumer price index, the GDP is growing extremely well. This year, it will be 4 to 4.5 percent thanks to infrastructure works and exports. We see it on the revenues, our revenues in the first seven months of 2021 are better than in 2019, which was the best post-war year,” said Novalić during a visit to the construction site of the regional road Stolac – Neum.

He noted that average salaries are also rising.

“Some say that it is because of the laid off workers with the lowest salaries, but this is not the case. We only have seven thousand fewer employees because of the pandemic and 7,000 to half a million cannot affect the salary average. Obviously, the labor market has become different, there is no labor force and that is why employers have to pay the workers more,” said Novalić.

According to him, during the first term of the current FBiH Government, the GDP increased by five billion KM, while during the previous government, that growth amounted to one billion KM.

“If we were to measure it in our daily lives, this had to be an improvement by a third in the last five or six years and that is so, we see it. 60 percent more cars were bought than in 2014, 60 percent more fuel was consumed, three billion more is spent in retail. Retail sales increased by 27 percent,” said Novalić.

He added that the government can only rely on macroeconomic indicators, and “perception can be on one side or the other through the media or politics.”