Compare Bosnia and Herzegovina (2008) - Bosnia and Herzegovina (2007)

Compare Bosnia and Herzegovina (2008) z Bosnia and Herzegovina (2007)

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	Bosnia and Herzegovina (2008)	Bosnia and Herzegovina (2007)

Background	Bosnia and Herzegovina's declaration of sovereignty in October 1991 was followed by a declaration of independence from the former Yugoslavia on 3 March 1992 after a referendum boycotted by ethnic Serbs. The Bosnian Serbs - supported by neighboring Serbia and Montenegro - responded with armed resistance aimed at partitioning the republic along ethnic lines and joining Serb-held areas to form a "Greater Serbia." In March 1994, Bosniaks and Croats reduced the number of warring factions from three to two by signing an agreement creating a joint Bosniak/Croat Federation of Bosnia and Herzegovina. On 21 November 1995, in Dayton, Ohio, the warring parties initialed a peace agreement that brought to a halt three years of interethnic civil strife (the final agreement was signed in Paris on 14 December 1995). The Dayton Peace Accords retained Bosnia and Herzegovina's international boundaries and created a joint multi-ethnic and democratic government charged with conducting foreign, diplomatic, and fiscal policy. Also recognized was a second tier of government comprised of two entities roughly equal in size: the Bosniak/Croat Federation of Bosnia and Herzegovina and the Bosnian Serb-led Republika Srpska (RS). The Federation and RS governments were charged with overseeing most government functions. The Office of the High Representative (OHR) was established to oversee the implementation of the civilian aspects of the agreement. In 1995-96, a NATO-led international peacekeeping force (IFOR) of 60,000 troops served in Bosnia to implement and monitor the military aspects of the agreement. IFOR was succeeded by a smaller, NATO-led Stabilization Force (SFOR) whose mission was to deter renewed hostilities. European Union peacekeeping troops (EUFOR) replaced SFOR in December 2004; their mission is to maintain peace and stability throughout the country. EUFOR's mission changed from peacekeeping to civil policing in October 2007, with its presence reduced from nearly 7,000 to 2,500 troops.	Bosnia and Herzegovina's declaration of sovereignty in October 1991 was followed by a declaration of independence from the former Yugoslavia on 3 March 1992 after a referendum boycotted by ethnic Serbs. The Bosnian Serbs - supported by neighboring Serbia and Montenegro - responded with armed resistance aimed at partitioning the republic along ethnic lines and joining Serb-held areas to form a "Greater Serbia." In March 1994, Bosniaks and Croats reduced the number of warring factions from three to two by signing an agreement creating a joint Bosniak/Croat Federation of Bosnia and Herzegovina. On 21 November 1995, in Dayton, Ohio, the warring parties initialed a peace agreement that brought to a halt three years of interethnic civil strife (the final agreement was signed in Paris on 14 December 1995). The Dayton Peace Accords retained Bosnia and Herzegovina's international boundaries and created a joint multi-ethnic and democratic government charged with conducting foreign, diplomatic, and fiscal policy. Also recognized was a second tier of government comprised of two entities roughly equal in size: the Bosniak/Croat Federation of Bosnia and Herzegovina and the Bosnian Serb-led Republika Srpska (RS). The Federation and RS governments were charged with overseeing most government functions. The Office of the High Representative (OHR) was established to oversee the implementation of the civilian aspects of the agreement. In 1995-96, a NATO-led international peacekeeping force (IFOR) of 60,000 troops served in Bosnia to implement and monitor the military aspects of the agreement. IFOR was succeeded by a smaller, NATO-led Stabilization Force (SFOR) whose mission was to deter renewed hostilities. European Union peacekeeping troops (EUFOR) replaced SFOR in December 2004; their mission is to maintain peace and stability throughout the country. EUFOR plans to phase out its mission beginning in 2007.
Budget	revenues: $6.952 billion expenditures: $7.094 billion (2007 est.)	revenues: $6.207 billion expenditures: $5.838 billion (2006 est.)
Debt - external	$7.057 billion (31 December 2007 est.)	$6.51 billion (2006 est.)
Economy - overview	Bosnia and Herzegovina ranked next to Macedonia as the poorest republic in the old Yugoslav federation. Although agriculture is almost all in private hands, farms are small and inefficient, and the republic traditionally is a net importer of food. The private sector is growing and foreign investment is slowly increasing, but government spending, at nearly 40% of adjusted GDP, remains unreasonably high. The interethnic warfare in Bosnia caused production to plummet by 80% from 1992 to 1995 and unemployment to soar. With an uneasy peace in place, output recovered in 1996-99 at high percentage rates from a low base; but output growth slowed in 2000-02. Part of the lag in output was made up in 2003-07 when GDP growth exceeded 5% per year. National-level statistics are limited and do not capture the large share of black market activity. The konvertibilna marka (convertible mark or BAM)- the national currency introduced in 1998 - is pegged to the euro, and confidence in the currency and the banking sector has increased. Implementing privatization, however, has been slow, particularly in the Federation, although more successful in the Republika Srpska. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Western Europe, now control most of the banking sector. A sizeable current account deficit and high unemployment rate remain the two most serious macroeconomic problems. On 1 January 2006 a new value-added tax (VAT) went into effect. The VAT has been successful in capturing much of the gray market economy and has developed into a significant and predictable source of revenues for all layers of government. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007. The country receives substantial reconstruction assistance and humanitarian aid from the international community but will have to prepare for an era of declining assistance.	Bosnia and Herzegovina ranked next to Macedonia as the poorest republic in the old Yugoslav federation. Although agriculture is almost all in private hands, farms are small and inefficient, and the republic traditionally is a net importer of food. The private sector is growing and foreign investment is slowly increasing, but government spending, at nearly 40% of adjusted GDP, remains unreasonably high. The interethnic warfare in Bosnia caused production to plummet by 80% from 1992 to 1995 and unemployment to soar. With an uneasy peace in place, output recovered in 1996-99 at high percentage rates from a low base; but output growth slowed in 2000-02. Part of the lag in output was made up in 2003-06 when GDP growth exceeded 5% per year. National-level statistics are limited and do not capture the large share of black market activity. The konvertibilna marka (convertible mark or BAM)- the national currency introduced in 1998 - is pegged to the euro, and confidence in the currency and the banking sector has increased. Implementing privatization, however, has been slow, particularly in the Federation, although it is increasing in the Republika Srpska. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Western Europe, now control most of the banking sector. A sizeable current account deficit and high unemployment rate remain the two most serious economic problems. On 1 January 2006 a new value-added tax (VAT) went into effect. The VAT has been successful in capturing much of the gray market economy and has developed into a significant and predictable source of revenues for all layers of government. The question of how to allocate revenue from VAT receipts is not completely resolved. Bosnia and Herzegovina became a member of the Central European Free Trade Agreement in December 2006. The country receives substantial reconstruction assistance and humanitarian aid from the international community but will have to prepare for an era of declining assistance.
Exchange rates	konvertibilna maraka per US dollar - 1.4419 (2007), 1.5576 (2006), 1.5727 (2005), 1.5752 (2004), 1.7329 (2003) note: the convertible mark is pegged to the euro	konvertibilna maraka per US dollar - 1.5576 (2006), 1.5727 (2005), 1.5752 (2004), 1.7329 (2003), 2.0782 (2002) note: the convertible mark is pegged to the euro
Executive branch	chief of state: Chairman of the Presidency Zeljko KOMSIC (chairman since 6 July 2007; and presidency member since 1 October 2006 - Croat); other members of the three-member presidency rotating (every eight months): Nebojsa RADMANOVIC (presidency member since 1 October 2006 - Serb); and Haris SILAJDZIC (presidency member since 1 October 2006 - Bosniak) head of government: Chairman of the Council of Ministers Nikola SPIRIC (since 11 January 2007) cabinet: Council of Ministers nominated by the council chairman; approved by the National House of Representatives elections: the three members of the presidency (one Bosniak, one Croat, one Serb) are elected by popular vote for a four-year term (eligible for a second term, but then ineligible for four years); the chairmanship rotates every eight months and resumes where it left off following each national election; election last held 1 October 2006 (next to be held in 2010); the chairman of the Council of Ministers is appointed by the presidency and confirmed by the National House of Representatives election results: percent of vote - Nebojsa RADMANOVIC with 53.3% of the votes for the Serb seat; Zeljko KOMSIC received 39.6% of the votes for the Croat seat; Haris SILAJDZIC received 62.8% of the votes for the Bosniak seat note: President of the Federation of Bosnia and Herzegovina: Borjana KRISTO (since 21 February 2007); Vice Presidents Spomenka MICIC (since NA 2007) and Mirsad KEBO (since NA 2007); President of the Republika Srpska: Rajko KUSMANOVIC (since 28 December 2007)	chief of state: Chairman of the Presidency Zeljko KOMSIC (chairman since 6 July 2007; and presidency member since 1 October 2006 - Croat); other members of the three-member presidency rotating (every eight months): Nebojsa RADMANOVIC (presidency member since 1 October 2006 - Serb); and Haris SILAJDZIC (presidency member since 1 October 2006 - Bosniak) head of government: Chairman of the Council of Ministers Nikola SPIRIC (since 11 January 2007); note - retired 1 November 2007; acting as acting chairman since his retirement cabinet: Council of Ministers nominated by the council chairman; approved by the National House of Representatives elections: the three members of the presidency (one Bosniak, one Croat, one Serb) are elected by popular vote for a four-year term (eligible for a second term, but then ineligible for four years); the chairmanship rotates every eight months and resumes where it left off following each national election; election last held 1 October 2006 (next to be held in 2010); the chairman of the Council of Ministers is appointed by the presidency and confirmed by the National House of Representatives election results: percent of vote - Nebojsa RADMANOVIC with 53.3% of the votes for the Serb seat; Zeljko KOMSIC received 39.6% of the votes for the Croat seat; Haris SILAJDZIC received 62.8% of the votes for the Bosniak seat note: President of the Federation of Bosnia and Herzegovina: Borjana KRISTO (since 21 February 2007); Vice Presidents Spomenka MICIC (since NA 2007) and Mirsad KEBO (since NA 2007); President of the Republika Srpska: Milan JELIC (since 9 November 2006)
Exports	0 bbl/day (2004)	NA bbl/day
GDP - real growth rate	5.5% (2007 est.)	6.2% (2006 est.)
Household income or consumption by percentage share	lowest 10%: 3.9% highest 10%: 21.4% (2001)	lowest 10%: NA% highest 10%: NA% (2001)
Imports	24,940 bbl/day (2004)	NA bbl/day
Industrial production growth rate	8% (2007 est.)	5.5% (2003 est.)
Inflation rate (consumer prices)	1.5% (2007 est.)	7.5% (2006 est.)
International organization participation	BIS, CE, CEI, EAPC, EBRD, FAO, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, NAM (observer), OAS (observer), OIC (observer), OPCW, OSCE, PFP, SECI, UN, UNCTAD, UNESCO, UNIDO, UNMEE, UNWTO, UPU, WHO, WIPO, WMO, WTO (observer)	BIS, CE, CEI, EBRD, FAO, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MONUC, NAM (observer), OAS (observer), OIC (observer), OPCW, OSCE, PFP, SECI, UN, UNCTAD, UNESCO, UNIDO, UNMEE, UNWTO, UPU, WHO, WIPO, WMO, WTO (observer)

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