{"id":11266,"date":"2021-11-05T15:29:13","date_gmt":"2021-11-05T14:29:13","guid":{"rendered":"https:\/\/webalkans.eu\/?p=11266"},"modified":"2021-11-05T15:29:13","modified_gmt":"2021-11-05T14:29:13","slug":"western-balkans-economies-recover-faster-than-expected","status":"publish","type":"post","link":"https:\/\/webalkans.eu\/en\/news\/western-balkans-economies-recover-faster-than-expected\/","title":{"rendered":"Western Balkans economies recover faster than expected"},"content":{"rendered":"<p>Industrial production and rising exports to the European Union are supporting growth in\u00a0<a href=\"https:\/\/www.ebrd.com\/ebrd-in-bosnia-and-herzegovina.html\">Bosnia and Herzegovina<\/a>,\u00a0<a href=\"https:\/\/www.ebrd.com\/north-macedonia.html\">North Macedonia<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.ebrd.com\/serbia.html\">Serbia<\/a>, while\u00a0<a href=\"https:\/\/www.ebrd.com\/albania.html\">Albania<\/a>,\u00a0<a href=\"https:\/\/www.ebrd.com\/kosovo.html\">Kosovo<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.ebrd.com\/montenegro-country.html\">Montenegro<\/a>\u00a0are benefitting from a strong rebound in travel or hospitality sectors over the summer months. The recovery is also being driven by the expansion of household consumption, enabled by growing remittances, increases in nominal wages and credit growth in most of the region\u2019s economies.<\/p>\n<p>&nbsp;<\/p>\n<p>This was noted by the European Bank for Reconstruction and Development (EBRD) in its latest\u00a0<a href=\"http:\/\/www.ebrd.com\/documents\/comms-and-bis\/regional-economic-forecasts-november-2021.pdf\">Regional Economic Prospects<\/a>\u00a0report, published on 4 November. This significant upward revision reflects output that was better than expected in the first half of the 2021 and indications of continued growth momentum in the third quarter<\/p>\n<p>&nbsp;<\/p>\n<p>As in other EBRD regions, consumer prices in the Western Balkans have been rising gradually since the beginning of 2021 on the back of higher food and energy prices. Fiscal policy has remained accommodative and interest rates are at historical lows to support the economy. The likelihood of tightening is increasing, however, amid persistent growth in prices and inflationary trends in the eurozone.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Industrial production and rising exports to the European Union are supporting growth in\u00a0Bosnia and Herzegovina,\u00a0North Macedonia\u00a0and\u00a0Serbia, while\u00a0Albania,\u00a0Kosovo\u00a0and\u00a0Montenegro\u00a0are benefitting from a strong rebound in travel or <\/p>\n","protected":false},"author":152227,"featured_media":11267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"country-for-news":[52,53,54,49,50,51],"class_list":["post-11266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","wb_theme-business-and-sme-support","wb_theme-competitiveness-and-growth","wb_theme-economy","country-for-news-montenegro","country-for-news-north-macedonia","country-for-news-serbia","country-for-news-albania","country-for-news-bosnia-and-herzegovina","country-for-news-kosovo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Western Balkans economies recover faster than expected News 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