Round table „Bh creative industries – Startup for creative entrepreneurs"“
The Economic Policies and Private Sector Development Unit focuses on evaluating the effectiveness of economic policies implemented in BiH and developing and proposing more efficient and more effective economic policies.
Bosnia and Herzegovina achieved high economic growth rates during the post-war period, yet crucial challenges still remain unaddressed. Economic development in BiH is characterized by slow structural changes, persistent high unemployment, modest foreign investment, and inadequate growth of both the private sector and SMEs. The current economic downturn and issues that permeate the Bosnian economy clearly indicate that government’s economic interventions have been based on ad hoc measures geared towards short-term partial goals, rather than strengthening economic and social development and achieving long term development objectives.
To improve economic development of the country, it is necessary to develop, adopt and implement economic policies based on: (i) sound information, research and analysis; (ii) clear forecasts and assessments of possible impacts and consequences; (iii) eliminating inconsistency, and (iv) contribution to the achievement of the country’s overall development objectives.
Activities related to economic policies and private sector development position CPU as a major contributor to the enhancement of the political dialogue through provision of expertise, improvements to the decision making of the legislative and executive branches, development of expert and analytical capacities of relevant organizations and institutions, and stronger involvement of the private sector in developing and deciding on economic policies.