Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth
Growth in the Western Balkans has strengthened to an estimated 3.5 percent. In most of the region, growth projections for 2018 have been revised upward. Growth was stimulated by higher public investment and consumption. Driven by tax reforms and fa...
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/111281562752461087/Western-Balkans-Higher-but-Fragile-Growth http://hdl.handle.net/10986/32088 |
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okr-10986-320882021-05-25T09:26:11Z Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth World Bank Group ECONOMIC GROWTH PUBLIC SPENDING JOB CREATION EMPLOYMENT TAXATION MONETARY POLICY EXPORTS ECONOMIC OUTLOOK REGIONAL INTEGRATION Growth in the Western Balkans has strengthened to an estimated 3.5 percent. In most of the region, growth projections for 2018 have been revised upward. Growth was stimulated by higher public investment and consumption. Driven by tax reforms and faster growth, higher tax revenues created fiscal space, which some countries rushed to use for current spending and capital investment. Higher exports are also necessary for more secure long-term growth. External imbalances have been high but mostly stable. The risks clouding a positive growth outlook are both external and internal. A possible tightening of the financing conditions in international capital markets is a downside risk, especially in countries that have external and fiscal imbalances. With domestic sovereign bond markets often underdeveloped, Western Balkan countries are exposed to rises in global interest rates. Robust growth in the region also depends heavily on domestic and regional political stability, which define the speed of structural reforms. Mitigating these external and internal risks requires both a firm commitment to fiscal consolidation and acceleration of structural reforms. 2019-07-15T21:06:00Z 2019-07-15T21:06:00Z 2018-09-01 Report http://documents.worldbank.org/curated/en/111281562752461087/Western-Balkans-Higher-but-Fragile-Growth http://hdl.handle.net/10986/32088 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Europe and Central Asia Eastern Europe Albania Bosnia and Herzegovina Kosovo North Macedonia (Formerly the Former Yugoslav Republic of Macedonia) Montenegro Serbia |
| repository_type |
Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH PUBLIC SPENDING JOB CREATION EMPLOYMENT TAXATION MONETARY POLICY EXPORTS ECONOMIC OUTLOOK REGIONAL INTEGRATION |
| spellingShingle |
ECONOMIC GROWTH PUBLIC SPENDING JOB CREATION EMPLOYMENT TAXATION MONETARY POLICY EXPORTS ECONOMIC OUTLOOK REGIONAL INTEGRATION World Bank Group Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth |
| geographic_facet |
Europe and Central Asia Eastern Europe Albania Bosnia and Herzegovina Kosovo North Macedonia (Formerly the Former Yugoslav Republic of Macedonia) Montenegro Serbia |
| description |
Growth in the Western Balkans has
strengthened to an estimated 3.5 percent. In most of the
region, growth projections for 2018 have been revised
upward. Growth was stimulated by higher public investment
and consumption. Driven by tax reforms and faster growth,
higher tax revenues created fiscal space, which some
countries rushed to use for current spending and capital
investment. Higher exports are also necessary for more
secure long-term growth. External imbalances have been high
but mostly stable. The risks clouding a positive growth
outlook are both external and internal. A possible
tightening of the financing conditions in international
capital markets is a downside risk, especially in countries
that have external and fiscal imbalances. With domestic
sovereign bond markets often underdeveloped, Western Balkan
countries are exposed to rises in global interest rates.
Robust growth in the region also depends heavily on domestic
and regional political stability, which define the speed of
structural reforms. Mitigating these external and internal
risks requires both a firm commitment to fiscal
consolidation and acceleration of structural reforms. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth |
| title_short |
Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth |
| title_full |
Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth |
| title_fullStr |
Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth |
| title_full_unstemmed |
Western Balkans Regular Economic Report, No. 14, Fall 2018 : Higher but Fragile Growth |
| title_sort |
western balkans regular economic report, no. 14, fall 2018 : higher but fragile growth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/111281562752461087/Western-Balkans-Higher-but-Fragile-Growth http://hdl.handle.net/10986/32088 |
| _version_ |
1764475754508189696 |