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English16/12/2019

INCREASE OF ECONOMIC COMPETITIVENESS IS PRIORITY

 

BANJALUKA, DECEMBER 16 /SRNA/ - Republika Srpska Prime Minister Radovan Viškovic today said in Banjaluka that the main goals of the Republika Srpska Government's policies for the period 2018-2022 are presented in seven priorities, with the increase of competitiveness and productivity of the economy, aimed at increasing salaries, and a sustainable health system among them.

 

"The priorities are an efficient overall public sector, education system and labour market tailored to the needs of the economy, improvement of the demographic position of Republika Srpska, research, development, innovation and the digital economy, the European integration, regional and international cooperation," Viškovic stressed before the National Assembly of Republika Srpska, explaining the 2020 – 2022 Economic Reform Programme Proposal.

He emphasized that the previously defined goals include measures, which would implement the guidelines for policies adopted in May at the economic and financial dialogue, but with full respect for the constitutional powers of each level of authorities in BiH and the competencies of the institutions.

"The Republika Srpska Government has tasked the Republika Srpska coordinator to conduct the process of developing the 2020-2022 BiH Economic Reform Programme exclusively in a way that Republika Srpska remains clearly visible in the process and the document, in accordance with the constitutional powers and competencies of the Republika Srpska institutions," says Višković.

He recalled that according to data from the Republika Srpska Institute of Statistics, the real growth rate of gross domestic product /GDP/ for 2018 was 3.9 percent.

"For the first half of 2019, GDP marked an average growth of 2.2 percent, indicating a slowdown in economic growth as a result of a decline in economic activity in the industry, caused by a decrease in electricity production compared to last year's high base, and a decrease in other products production as a result of lower external demand," Višković said.

This was reflected, he says, in a decrease in Republika Srpska's foreign trade, with a greater drop in imports than in exports.

This year, the labour market continues to see an increase in the number of employees and a decrease in the number of unemployed persons, as a result of higher employment rate and negative demographic trends. Under the influence of lower external demand and the slowdown in economic activity, it is expected that the economic growth of Republika Srpska will amount to three percent this year, assuming that domestic spending, in addition to reducing the foreign trade deficit, will be the main pillar of GDP growth," Višković says. /end/vos