Economic expert and advisor to the General Secretary of the B&H Foreign Trade Chamber Igor Gavran thinks that the the exiting of the eurozone from the recession and the gradual improvement of the economic situation in the EU, as the biggest export market, could only have positive effects on B&H.
”We can expect an increase in demand, or an increase in orders of our export products on those markets because our exports are primarily based on some intermediate and raw materials that are used by final processors in the EU”, said Gavran to Fena.
Specifically, in terms of recovery and that production would incease and when it increases there will be a basis for larger orders and an increase of our exports. Also, better perspectives for investors to invest more in B&H would open.
Gavran pointed out that this is certainly far from true recovery and of some economic recovery of the eurozone, and that we should not fool ourselves and expect that this would save the B&H economy or that it would now immediately arrive to our economic expansion.
”However, in such a bad situation where there is practically no internal support of the economy, as well as no improvement of business services, when economic reforms are pure theory and abstraction, every postive impulse, and maybe this one could contribute to the B&H economy, its survival and improvement of exports to those companies that are still exporting”, added Gavran.
The eurozone in the second quarter of this year left a recession after 18 months of decline in economic activity, confirmed on Wednesday with the published data from Eurostat.
According to that data, the economic activity in 17 countries that use the Euro grew from 1 April to 30 June by 0,3 percent in comparison to the last quarter, which is a bit better than predicted.
The same increase was marked in 27 countries, after a fall of 0,1 percent was marked in the first quarter.
Compared to the same quarter last year, the GDP in the eurozone is less by 0,7 percent, and in the EU27 0,2 percent.
Analysts in the eurozne predicted an increase by 0,2 percent in the second quarter after 6 consecutive quarters of economic activity, the longest period of recession in the history of the eurozone.