New Data on Size of BH Economy 7/26/2006 Tweet Recently published data on the level of the Gross Domestic Product (GDP) in BH show that added value in BH in 2005 is more than KM 15, 7 billion that is significantly higher than in previous years. At the same time data for 2004 are also revised by 8, 5% compared with those previously published. These data on GDP confirm previous estimates on the significant economic growth of 7, 5% in nominal sense in 2005. At the same time, it is necessary to notice that the way of measuring and the application of the international methodology have been improved, which is the reason for the revision of data for 2004. "Improvements and adjustment in measuring the size of the economy to the international standards are a long expected step forward and the Statistics Agency of BH should continue to work in that direction. Better statistical measuring has a great importance for the adequate managing of economic policies, but also for the realistic presentation of BH economy abroad. Previous GDP had a significant underestimated value, which was giving a wrong picture on BH economy which the Central Bank of Bosnia and Herzegovina (CBBH) constantly warned the local and international institutions of", the Governor of the CBBH Kemal Kozarić stated. The CBBH thinks that further improvement in calculation of unobserved economy and data quality is needed in order to finally have reliable statistics which would be comparable to other countries and which would help in better analysis of the economic conditions. In that respect, it is necessary to prepare GDP in constant prices, rates of the real growth and calculation according to the consumption method. It is also necessary to ensure a more transparent explanation to the public on the reason for the revision and changes in data. Public Relations Section CoordinatorZijada Kovač
