Bosnia and Herzegovina: Large current account deficits and high external debt.

Following relatively robust average annual real GDP growth of +6.6% in 2000-08, the economy slipped into recession in 2009 (-1.8%) in the wake of the global financial crisis.

Thereafter, the economy recovered only modestly, growing by just +1% in 2010 and +1.3% in 2011, and is estimated to have contracted again in 2012 (-0.2%).