“Bosnia’s economy needs to grow at a faster pace to attain convergence with European Union living standards, but economic reforms may lose momentum this year due to elections, the governor of its central bank said on Monday.

Senad Softic said he expected growth to have reached around 3 percent in 2017, the same level as in the previous two years, but did not provide projections for 2018.

‘With such growth rates we cannot expect significant changes in living standard,’ he told Reuters in an interview. ‘We need a more significant growth of 5 percent over a long period.’

In November, the World Bank said it would take as many as six decades for income levels in the Western Balkans to catch up with the EU if economies in the region continued to grow at the average speed achieved between 1995 and 2015.” (US News & World Report)