In the context of weakening global demand, growth in the Western Balkans decelerated over the course of 2022 and into 2023. Against the background of the lasting effects of shocks from Russia's invasion of Ukraine, sticky inflation, and tighter financial conditions, global demand has been...

In 2020 COVID-19 (coronavirus) plunged the Western Balkan countries, like the rest of the world, into deep recession. Economic activity contracted by an estimated 3.4 percent - the worst downturn on record. The primary causes were the drop in both domestic and foreign demand and disruptions in...

Fiscal balances have started to improve as a result of a stronger economic performance, but it will take further effort to replenish buffers. The growth recovery is contributing to buoyant revenue collection across the region, particularly in value-added tax collections, as domestic consumption...

An effective and equitable social protection system can help Kosovo to promote human capital, foster productivity, and reduce poverty. Since its independence in 2008, the country has made considerable socioeconomic progress, benefiting from the support of the international community and its own...

Growth in the six South East European countries (SEE6) rebounded to 2.1 percent in 2015, as investment revived. The SEE6 region is not only growing but also rebalancing to more durable sources of growth. While higher growth in 2015 brought new jobs in the private sector, and helped poverty...

The Yugo, a communist-era car from the former Yugoslavia, was widely ridiculed for shedding its parts on roads across Europe and the United States. Zastava, which made Yugo, fared even worse than its product. After the Balkan conflicts of the 1990s, the factory was reduced to producing only...

This is a semi-annual report series on recent economic developments and economic policies in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia). The report looks at the economic performance and outlook for the Western Balkans region and specific...