It records an increase from the last reported number of 16,432.280 PPP Intl $ in Dec 2019.

A second wave of the pandemic in the Western Balkans since mid-June and political uncertainty about elections in some countries have further impeded economic recovery. Changes in gdp per capita and their respective ranking of economies in 2019. The report analyzes the economic performance and outlook for the Western Balkans and specific factors that affect the region’s development. Live data and insights on Coronavirus outbreak around the world, including detailed statistics for the US, Italy, EU, and China. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Across the Western Balkans, resilient recovery will depend on strengthening the fundamentals. You can change your personal cookie settings through your internet browser settings. But regulatory obstacles in the region make it difficult to set up investment mechanisms in support of firms, such as private equity and debt instruments, venture capital, crowdfunding platforms, or business angel groups. Environmental and Social Policies for Projects, World Bank Group and COVID-19 (coronavirus), Development Policy and COVID-19 eSeminar Series, Confronting the Jobs Impacts of COVID-19 (Coronavirus), Recession Deepens as COVID-19 Pandemic Threatens Jobs and Poverty Reduction in Western Balkans, Brookings: Hard times require good economics - The economic impact of COVID-19 in the Western Balkans, Setting the stage: Reviewing the state and vulnerabilities of the Western Balkan Economies as they face COVID-19. Recent and ongoing World Bank support is focused on such areas as the development of a welfare-monitoring system, support for a regional water and climate agenda, and technical assistance for the hydrometeorology committee. This site uses cookies to optimize functionality and give you the best possible experience. The World Bank Group works in every major area of development. This site uses cookies to optimize functionality and give you the best possible experience. Find Out. and liquidity trends because COVID-19 poses the most serious threat since 2008. Trade in the region will be affected by the combination of a supply side shock, largely through global value chains, and a demand side shock, due to recessions in Life Expectancy at birth, years. GDP, current US$ billion. Where infections surge and lockdowns are required, economic policy should continue to cushion household income losses with well targeted measures, as well as provide support to firms suffering the consequences of mandated restrictions on activity.

The total employment impact of the COVID-19 pandemic is expected to be unprecedented and broad-based in the Western Balkans, with 40 percent of the 2019 unemployment reduction gains lost by April 2020. Net exports positively contributed to economic growth, but this was more than offset by weakened domestic demand that reflected a decline in public investment to 22 percent of GDP in 2018 from an average of 30 percent in 2014–17. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Thank you for participating in this survey!

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