worldbank.org Economic Growth in SEE

Today's infographic shows the findings related to the economic growth of the South Eastern Europe Region according to the South Eastern Europe Regular Economic Economic (SEE RER)  produced by the World Bank. 

The full report can be found here

Growth in 2014 for six countries in South East Europe was close to zero, according to the latest South East Europe Regular Economic Report (SEE RER). 

While Albania and the Former Yugoslav Republic (FYR) of Macedonia grew faster in 2014 than in 2013, growth in both Kosovo and Montenegro was lower than expected - though still positive. 

Furthermore, stagnation in Bosnia and Herzegovina and negative growth in Serbia - the biggest economy in the region - combined to restrict regional growth. Persistently high unemployment, low labor force participation rates, and sluggish formal job creation all stymied growth in 2014. 

A large and inefficient public sector continues to affect growth in the region and while some progress has been made in easing the burdens of the investment climate, there is still much room for improvement. 

Growth prospects are dependent on external factors, including a sustained recovery of external demand, especially in Europe, and stabilization of international energy prices at around current levels. 

Weather - in particular unprecedented floods in May and the residual impacts of earlier severe events - was a major factor hindering growth in the region, exposing the overall vulnerability of these economies to extreme weather events.