Representatives from the European Commission and institutions from Bosnia-Herzegovina recently met in Brussels to discuss the process of integration of the country and its progress with fulfilling the Stabilisation and Association Agreement (SSA).
The level of approximation and transposition of the EU rules in the areas of Economic and Financial Issues, and Statistics was also discussed. The Commission welcomed the updated medium-term macroeconomic scenario that was presented, but at the same time stressed to warn of the downside risks.
Furthermore, after the talks, both sides agreed that despite the current economic recovery of Bosnia-Herzegovina, it is still too weak for the long-term.
The two main obstacles to more sustainable and domestic-driven economic growth are said to be the incomplete structural reform agenda, and the low quality of public finances.
Focusing on raising economic growth, the Commission called on the nation to increase efforts in its structural reforms so that the business environment can be enhanced.
It also said that this needs to be done to increase domestic sources of growth, so that reliance on other countries is decreased.