Ambassador of Republic of Austria Visited the CBBH

On Monday, October 12, 2009, H.E. Ambassador of Republic of Austria to Bosnia and Herzegovina Donatus Keock, accompanied by the Trade Advisor Astrid Pummer, visited the Central Bank of Bosnia and Herzegovina and talked to the Governor Kemal Kozarić Ph.D.

Governor Kozarić expressed to the Ambassador his welcome to Bosnia and Herzegovina and the CBBH, and wished him successful work.

The Ambassador was interested in macroeconomic situation in the country, developments related to the Stand-By Arrangement with the IMF, as well as, the situation in the banking market. Talking about the effects of the crisis on Bosnia and Herzegovina, Governor Kozarić pointed out the fall of GDP that will be minus 3% in this year, according to the last projections. This year, the decrease of income by 16% has been recorded, as well as, the decrease of export by 22%, import by 25%, and the rate of unemployment has been increased. The impact of the crisis is visible in decreased amount of remittances from abroad, and it is estimated that this year they will be decreased by around 20% compared to the last year.

When the banking sector is in question, the significance of Vienna Initiative was emphasized, in line to which the largest banks in BH will remain adequately capitalized and will continue with active lending policy in our country.

In talks with the Austrian Ambassador, Governor Kozarić stressed that Republic of Austria is important to Bosnia and Herzegovina, not only because of historical relationships, but as the biggest foreign investor. Therefore, is necessary to keep good relationships and the CBBH is ready to give all required information and data, Governor Kozarić said.

The meeting was finished with mutual wishes and hopes in further successful cooperation.

Public Relations Section