Bosnia and Herzegovina legal system
Bosnia and Herzegovina is a multiparty republic with a bicameral Parliamentary Assembly consisting of the National House of Representatives and the House of Peoples (Dom Naroda). The Chair of the Presidency of Bosnia and Herzegovina rotates among three members
(Bosnian, Serb and Croat), each elected as the Chair for a 8-month term within their 4-year term as a member. The three members of the Presidency are elected directly by popular vote.
Economy in Bosnia and Herzegovina in 2007
Next to Macedonia, Bosnia and Herzegovina was the poorest republic in the old Yugoslav Federation. For the most part, agriculture has been in private hands, but farms have been small and inefficient, and food has traditionally been a net import for the country. Industry still is greatly overstaffed, reflecting the legacy of the centrally-planned economy. However, considerable progress has been made since peace was re-established. Due to Bosnia and Herzegovina's strict currency board regime, which links the convertible mark (Konvertibilna Marka - BAM) to the Euro, inflation has remained low. Privatization has been slow, and unemployment remains on a very high level. The introduction of a value-added tax (VAT) in 2006 has increased the government's tax revenues and resulted in a budget surplus, but also caused a remarkable inflation surge.
Bosnia and Herzegovina's top economic priorities are: acceleration of EU integration by concluding a Stabilization and Association Agreement (SAA); strengthening the fiscal system; public administration reform; World Trade Organization (WTO) membership; and securing economic growth by fostering a dynamic, competitive private sector.
Industry in Bosnia and Herzegovina
The economy of Bosnia and Herzegovina is based mainly on agriculture and mining, however the energy sector and forestry are also of significant importance.
Electric energy is obtained largely from hydroelectric power stations placed on Trebišnijca and Neretwa rivers and thermal power stations, for example: Kakanj, Lukavac and Zenica. Dominating industries are the food, wood, metallurgy, chemicals, leather, textiles and paper industries. Ferrous metallurgy (Zenica, Vareš and Ilijaš) and aluminium metallurgy (Mostar) are also significant sectors. However, infrastructure is still insufficiently developed, with the most significant being railway connections, for example the Sarajewo-Kardeljevo and Sarajewo-Šabac lines. The telephone network needs modernization and expansion. The problem is that, due to the ethnic war between 1992and 1995 in the region, industry and infrastructure is less developed there than in other countries. Before the war, Bosnia and Herzegovina was a very attractive place to spend holidays, but because of exensive war damage, the tourist industry will probably experience long term stagnation.
Natural resources of Bosnia and Herzegovina
Almost half of the total area forms arable lands (46%), however grasslands (mostly pastures) make up around 30%. Cultivation concerns mainly: corn, wheat, barley, oats, potatoes, tobacco, rice, sunflower, linen, fruit (grapevine, plum, olives and peach). The principal natural resources are coal (Banovici, Tuzla , Kakanj and Zenica), iron ore (Vareš, Ljubija), bauxite (Bosanska Krupa, Mostar), copper, lead, zinc, chromites, cobalt, manganese, nickel, clay, gypsum, salt, sand and forests.
Export and import in Bosnia and Herzegovina
Export commodities are mostly metals, clothing, wood products while major import commodities include machinery and equipment, chemicals, fuels and foodstuffs. Bosnia and Herzegovina’s major trading partners are Italy, Croatia, Germany, Austria, Slovenia and Hungary.
Infrastructure
The telephone network needs modernization and expansion. In 2007 there were 950,000 internet users, however there were over a 1.9 million mobile phone users at the end of 2006.
Many urban areas are below average as contrasted with services in other former Yugoslav republics. There are around 21,846 km of roadways in total (including 11,424km paved and 10,422 unpaved roads). Sava River located next to the northern border is open to shipping but use is still limited because of no agreement with neighbouring countries.
Area: 51,197 sq km
Population: 4.5 million
Capital city: Sarajevo
Language: Bosnian, Croatian, Serbian
Ethnic groups: Bosniak 48.3%, Serb 34%, Croat 15.4%, other 2.3% (2002);
note: Bosniak has replaced Muslim as an ethnic term in part to avoid confusion with the religious term Muslim - an adherent of Islam.
Land boundaries: Croatia , Serbia and Montenegro
MACRO DATA
GDP (real growth): 6.2%
GDP (PPP): €14,963 millions
GDP per capita: € 3,325.1
Inflation: 7.4% , note: one-time effect of the introduction of a value-added tax
Unemployment: 44.2%
Export: €29.27 billion f.o.b.
Import: €7.4 billion f.o.b.
*2006 est. source: Eurostat
USEFUL DATA
Currency: convertible mark (BAM)
Exchange rate €/BAM 1.9558, BAM/€ 1.9558
Time zone: GMT +1
Area code: +387
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