Greek Ambassador Visited the CBBH

On December 21, 2009, the Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Kemal Kozarić, Ph.D. discussed the economic situation in BH and Republic of Greece with the Ambassador of the Republic of Greece in BH, H.E. Procopios D. Mantzouranis.

Mantzouranis, while visiting the CBBH, was interested in the impact of the global economic crisis on BH and, during the conversation, emphasized the problems that Republic of Greece has been facing, as well.

Governor Kozarić pointed out that BH records the export decrease by 21, 4% and the import decrease by 26,1%, the GDP decrease, the decrease of public revenues by 16%, increase of unemployment amounting to 24,1% and significant budget deficit at all levels. Positive indicators of the BH economy are the low inflation, moderate indebtedness of BH, the monetary stability and stable banking sector.

During the discussion with Governor Kozarić, the Greek Ambassador stressed that the biggest problems faced by Republic of Greece are an extremely high external debt and large public spending, which is not exclusively a direct consequence of the global economic crisis. The banking sector in Republic of Greece is also sound. The collocutors expressed their hopes that both countries will soon find a way to exit the crisis in which they are currently.

During the discussion, the readiness to continue the cooperation between the CBBH and the Bank of Greece was expressed, which has been so far at exceptionally high level.

Public Relations Section