Western Balkans A Roadmap for Sustainable Development October 2017 Public Disclosure Authorized Public Disclosure Authorized World Bank 1818 H Street NW Washington DC 20433 Telephone: 2024731000 Internet: www.worldbank.org This document has been produced with the financial assistance of the The Western Balkan countries, Albania, Bosnia and Herzegovina, Kosovo, the former Yugoslav Republic (FYR) of Macedonia, Montenegro, and Serbia, achieved strong growth and poverty reduction since the start of the transition to market economies. Senior Economist, Macroeconomics, Trade and Investments, Western Balkans - World Bank. Prior to this position, Ms. Van Gelder was the Directo r of Download the report. The growth outlook in the Western Balkans is positive, with regional growth expected to increase to 3.6 per cent by 2019, World Bank Country Director for Western Balkans, Linda Van Gelder, told Emerging Europe. A reliable and sustainable energy supply in the Western Balkan (W-B) region is essential to support the regions economic growth and pave the way toward European Union (EU) accession for its constituent nations. The Western Balkan countriesAlbania, Bosnia and Herzegovina, Kosovo, the former Yugoslav Republic (FYR) of Macedonia, Montenegro, and Serbia achieved strong growth and poverty reduction since the start of the transition to market economies. Wood has been appointed by the World Bank to assess the potential of shifting freight movements in the Western Balkans to alternate forms of transport including rail and inland waterways. The World Bank said on Tuesday it had lowered its forecast for the Western Balkans economic growth in 2019 to 3.2% from 3.5% predicted in April. Private Equity in the Western Balkans | World Bank Group Self-Paced eLearning Private Equity in the Western Balkans 5 (1) 9 Discussions SIGN-IN TO ENROLL The private equity market in the Western Balkans is at a very early stage of development and there is currently limited investment opportunity. Economic growth slows as the contribution of investment and exports to growth is fading. Instead, consumption continues to be the main driver of economic activity in Western Balkan countries, fueled by higher public spending and near double-digit growth in household lending. Western Balkans Face New Economic Headwinds Despite Strong Post-Pandemic Recovery. DDI Document ID. Economic activity is slowing in the Western Balkans, as investments and exports continue to fade into six countries around the region, the World Bank said in a press release [] May 4, 2022. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. At the meeting, Minister Artane Rizvanolli accompanied by the current World Bank Regional Director for Western Balkans, Linda van Gelder, the incoming Regional Director for the Western Balkans, Xiaoqing Yu, and the World Bank Country Manager for Kosovo, Massimiliano Paolucci, visited the data center built for KREN and were informed about the latest developments. It will take as many as six decades for income levels in the Western Balkans to catch up with those of the European Union (EU) if economies in the region continue to grow at the average speed achieved between 1995 and 2015, says a new World Bank report. This Regular Economic Report (RER) covers economic developments, prospects, and economic policies in the Western Balkans region: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. EUROPE FINANCIAL SERVICES. She works for the Investment Climate group, and is based in Belgrade, Serbia. Economy & Business Western Balkans needs new growth model World Bank. The World Bank has prepared a multi-phase project, the Western Balkans Trade and Transport Facilitation Project, which will be carried out in two phases. The World Bank Groups Western Balkans Regional Investment Policy and Promotion Project (funded by the European Union and implemented in collaboration with the Regional Cooperation Council) is helping the Western Balkans attract FDI and integrate in GVCs addressing some of these recommendations. The World Bank on Wednesday cut its forecast for economic growth of six countries of the Western Balkans to 3.1% from 4.1% previously, citing risks from the Ukraine war following a rebound from the recession caused by the COVID-19 pandemic. report said. Western Balkans region: Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia. 2017. by EWB 30. The economies of the Western Balkans saw a strong growth rebound in 2021 with a broad-based bounce back in economic activity. The World Bank Group has been the key development partner in the Western Balkans and has supported the Western Balkan countries during the period of economic transition and early reforms. September 29, 2016. report said. Growth is projected to average 3.7 percent for 201920, faster than the EU and similar to the average for Central and Eastern Europe (CEE). It stands out as the Western Balkan country with the lowest labor market outcomes, especially for women, and is one of the poorest countries in Europe and the poorest in the Western Balkans, secondly to Albania. The questionnaires for the Western Balkans Investment Readiness Surveys were organized as follows: - Application Form : Pioneers of the Balkans Western Balkans Investment Readiness Surveys and Replication Code 2015-2018. Phase 2 includes Bosnia and Herzegovina, Kosovo and Montenegro. the World Bank and the Regional Cooperation Council. Ref: ECA_2015-2018_WBIRS_v01_M. Watch the highlights of this partnership. In the Western Balkans region, most freight is currently transported via roads that are susceptible to climatic events, resulting in delays at crossings. This issues core team included World Bank staff working on the Western Balkan countries (with additional contributions to specific sections): Agim Demukaj, Sandra Hlivnjak (External section), Edith Kikoni (Fiscal section), Sanja Madarevi-ujster (Labor World Bank, its Board of Executive Directors, or the governments they represent. Zastava, which made Yugo, fared even worse than its product. The World Bank Group also lead the post-conflict reconstruction in Bosnia and Herzegovina, and Kosovo. After the Balkan conflicts of the 1990s, the factory was reduced to producing only 18,000 cars in 2002. Despite a strong rebound from the pandemic, the Western Balkans now face a new set of challenges, compounded by the war in Ukraine, including rising energy and food prices, high inflation, and slowing trade and investment, said Linda Van Gelder, World Bank Country Director for the Western Balkans. This Western Balkans RER and previous issues may be found at: www.worldbank.org/eca/wbrer/. 2020 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. 2017. SKOPJE Countries in the Western Balkans are growing at a faster pace than in 2015, with regional growth projected to be 2.8 percent in 2016 and 3.2 percent in 2017, according to the latest World Bank Western Balkans Regular Economic Report (WB RER). Downloaded from [url] on [date]. leading the dialogue on economic reform with the six countries of the Western Balkans, developing the World Banks country strategies, managing the World Bank portfolio, coordinating with partners, and engaging in outreach on economic growth and poverty reduction in the Western Balkans. We employ the Worldwide Governance Indicators of the World Bank, namely, the Governance Effectiveness Indicator, as one of the six broad dimensions of governance. 12. The report examines Roma inclusion in the Western Balkans in five priority areas: education, labour [] Citation World Bank. The report is produced twice a year by a team led by Ekaterina Vostroknutova and Marco Hernandez (Task Team Leaders). 2021. In 2021, GDP growth in the Western Balkans reached 7.4 percent after a contraction of 3.2 percent in 2020. Beginning from a World Bank support to productive grants in Western Balkans for EU pre-accession World Bank supports Western Balkan agriculture and forestry sectors development to build capacity for implementation of EU Instrument of Pre-Accession Assistance for Rural Development (IPARD) In Montenegro, Kosovo and Albania this translated into providing SARAJEVO The World Bank on Wednesday cut its forecast for economic growth of six countries of the Western Balkans to 3.1% from 4.1% previously, citing risks from the Ukraine war following a rebound from the recession caused by the COVID-19 pandemic. Then Fiat entered the picture in 2008, investing more than a billion euro to make Zastava one of its most modern factories anywhere in the world. The World Bank has prepared a multi-phase project, the Western Balkans Trade and Transport Facilitation Project, which will be carried out in two phases. Working with the World Bank, the CCAF conducted research into the fintech ecosystem within six jurisdictions in the Western Balkans. VIENNA, May 4, 2022 The six countries of the Western Balkans region are facing a new range of economic challenges, despite a better-than-expected rebound from the recession caused by the COVID-19 pandemic, says the latest Western Balkans WESTERN BALKANS REGIONAL R&D STRATEGY FOR INNOVATION Overview of the Research and Innovation Sector in the Western Balkans. World Bank Technical Assistance Project (P123211) October, 2013. The World Bank on Wednesday cut its forecast for economic growth of six countries of the Western Balkans to 3.1% from 4.1% previously, citing risks from the Ukraine war following a rebound from the recession caused by the COVID-19 pandemic. According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and overall-deficit rules a little more than half the time. W-B countries, through energy community, adopted obligation to implement the European Union See More Details Author P a g e | V Content Growth rates, 2019-24f, percent 2 4 ALB BIH KOS MNE MKD Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro and Serbia added 190,000 jobs last year but economic growth declined, says the World Banks latest report on the Western Balkans. The interview below was conducted with Violane Konar-Leacy, an Operations Officer in the World Bank Groups International Finance Corporation. GDP is now expected to surpass pre-pandemic levels by 2022. Then Fiat entered the picture in 2008, investing more than a billion euro to make Zastava one of its most modern factories anywhere in the world. Vienna, Austria, April 28, 2021IFC, a member of the World Bank Group, is supporting the digital transformation of financial institutions across Europe and Central Asia. Economic activity is slowing in the Western Balkans, as investments and exports continue to fade in the six countries around the region, the World Bank warned on Tuesday, pointing to worrying findings of the last six-month analysis of 2017.

A more integrated approach is needed to break down the numerous barriers that Roma face through the provision of essential services, social benefits, and focused interventions, says a new World Bank report, Breaking the Cycle of Roma Exclusion in the Western Balkans. In its semi-annual report on recent economic developments and the outlook, the lender said that in all six regional countries: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia, GDP growth was projected to reach 5.9 percent in 2021, after a 3.1 percent contraction in 2020. 20, Fall 2021 : Greening the Recovery. Phase 1 includes Albania, North Macedonia and Serbia. The World Bank survey on the Western Balkans showed that people in the region already saw advantages in online shopping, specifically time saving (80% of respondents) and greater product choice (57%). Similarly, the faster-than-expected recovery in domestic consumption across the region has placed upward pressure on domestic costs, particularly in labor markets during the summer tourism season. This may be due to a low level of infection among the populationor partly due to inadequate surveillance systems. EWB 30. The Platform Initiative, according to Sikow-Magny, is largely based on the Western Balkans countries commitment to clean energy transition as expressed in the 2019 Podgorica Joint Statement. Phase 2 includes Bosnia and Herzegovina, Kosovo and Montenegro. Prior to this position, Ms. Van Gelder was the Directo r of World Bank Upbeat About Western Balkans. Development Projects Projects By Country By Sector By Theme Country Engagement World Bank (2022-06) The world economy continues to suffer from a series of destabilizing shocks. THE EUROPEAN INVESTMENT BANK IN THE WESTERN BALKANS 5 WHAT WE OFFER I n the Western Balkans, the EIB offers loans, grants and expertise in four main areas: innovation, small businesses, infrastructure and the climate. References. This issues cor e team included World Bank economists working on the countries GENERAL INFORMATION. The report is produced twice a year by a team led by Edith Kikoni and Jasmin Chakeri (Task Team Leaders). One key component of the project involves World Bank Group Metadata Show full item record To accelerate growth and create jobs, the Western Balkans and Croatia will need faster economic growth generated by advanced industries and services that usually concentrate in cities. Ms. Van Gelder has held the position since July, 2017 and is responsible for leading the dialogue on economic reform with the six countries of the Western Balkans, developing the World Banks country strategies, managing the World Bank portfolio, The EU hopes to help the Western Balkans and Ukraine to phase out coal and build a new economy based on clean, renewable energy sources, she said. Policy toward fiscal rules is an important issue in the countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). Western Balkans will be one of the policy priorities of the Bulgarian presidency and a Western Balkans Summit is scheduled to take place in May 2018 in Sofia.

Western Balkans Labor Market Trends 2018 (English) This report is the second in a series, presenting labor market developments in the Western Balkan countries in 2017 and comparing with selected member states of the European Union (EU). World Bank. The Western Balkans Region comprises Candidate Countries and Potential Candidate Countries.. This Regular Economic Report (RER) covers economic developments, prospects, and economic policies in the Western Balkans region: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. The growth outlook in the Western Balkans is positive, with regional growth expected to increase to 3.6 per cent by 2019, World Bank Country Director for Western Balkans, Linda Van Gelder, told Emerging Europe. 11. 01. The World Bank supported all the other Western Balkan countries through emergency support for health spending, depending on need and ranging from 15 million for Albania to 140 million for North Macedonia. The already high external debt burden in most Western Balkan countries has been inching up. The World Bank Group works in every major area of development. Western Balkans Regular Economic Report, No. Ana Brnabi Boyko Borissov Bulgaria Edi Rama Filip Vujanovi Hashim Thai Western Balkans World Bank zoran zaev. Growth for the Western Balkans is now forecast at 3.1 percent in 2022. Average inflation is projected to reach 2.3 percent in 2021 from 0.9 percent in 2020. In line with global conditions, inflationary pressures in the Western Balkans are on an upward trajectory. According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and overall-deficit See More Details Author Western Balkans Investment Framework (WBIF) is a joint initiative of the European Commission and the partner international financial institutions (EIB - the European Investment Bank, EBRD - the European Bank for Reconstruction and Development, CEB - the Council of Europe Development Bank, the KfW Development Bank, the AFD - Agence Franaise Share: Source: EPA. After the Balkan conflicts of the 1990s, the factory was reduced to producing only 18,000 cars in 2002. Despite a strong rebound from the pandemic, the Western Balkans now face a new set of challenges, compounded by the war in Ukraine, including rising energy and food prices, high inflation, and slowing trade and investment, says Linda Van Gelder, World Bank country director for the Western Balkans. Economies in the Western Balkans region will contract by up to 5.6% under the best scenario of how the coronavirus pandemic unfolds in Yet, in the Western Balkan countries the HIV prevalence rate is under 0.1 percent, which ranks among the lowest. Phase 1 includes Albania, North Macedonia and Serbia. The World Bank said in its latest report that the Western Balkans will see an economic decline this year because of the war in Ukraine.