June 18, 2014 / 4:00 PM / 4 years ago

Floods to reverse Bosnian economic growth this year

SARAJEVO, June 18 (Reuters) - Devastating floods in May will cause economic output in Bosnia to shrink by 1.1 percent this year instead of growing 2.2 percent as previously hoped, an international team assessing the damage said on Wednesday.

“The growth in GDP is going to come down from 2.2 (percent) before to a decrease of 1.1 (percent),” said Ricardo Zapata Marti, coordinator of a team comprising officials from the Bosnian government, the European Union, United Nations and World Bank.

The team said the damage inflicted on Bosnia by the heaviest rainfall in the Balkans in more than a century was in the region of 4 billion Bosnian marka ($2.7 billion), or 18.5 percent of Bosnia’s gross domestic product (GDP).

Reporting by Daria Sito-Sucic; Editing by Matt Robinson and Robin Pomeroy

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