Ambassador of Kingdom of the Netherlands Visited the CBBH

Today, on January 28, 2010, the Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Kemal Kozarić, Ph.D. discussed the economic situation in BH with the Ambassador of the Kingdom of the Netherlands in BH, H.E. Sweder van Voorst.

Ambassador van Voorst, who visited CBBH with his associates, was interested in impact of the global economic crisis on BH, meeting of the second tranche conditions of Stand By Arrangement with the International Monetary Fund (IMF) and the influence of the Stabilization and Association Agreement on the BH economy.

Governor Kozarić pointed out that in 2009, BH recorded the GDP decrease. The decrease of exports by around 22% and imports by around 27% were recorded, too, unemployment was increased, amounting to around 24%, while the foreign trade deficit decreased by 30%. Among positive indicators of the BH economy we have monetary stability and stable banking sector.

The Governor emphasized that there is expectation for the slight recovery in 2010, as well as the growth of the GDP by 0, 5%. He expressed his optimism related to the meeting of the all conditions for the implementation of the Stand By Arrangement, as well as, for the implementation of the reforms at all levels. Also, Governor Kozarić reminded that the economy should be finally treated as the first priority.

Ambassador Van Voorst, during the conversation, stressed that the Dutch Government has already provided assistance to BH on two levels, through technical assistance to the Ministry of Finance and Treasury and through the Constituency of the World Bank and International Monetary Fund, and he stressed the readiness for further cooperation and assistance wherever it is possible.

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