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Global Europe
Economy of Bosnia and Herzegovina

Politics and Economy of Bosnia and Herzegovina

Posted on May 11, 2022April 29, 2022 by globalsciencellc

State structure and political system of Bosnia and Herzegovina

The state-building process of Bosnia and Herzegovina is in its initial stages. This is a state with a unique form of structure and government, combining elements of federation and confederation (the institution of collective presidency, the presence of two armies, etc.). The Constitution adopted in 1995 is in force (it is part of the Dayton Agreement). Check computerminus for political system of Bosnia and Herzegovina.

Bosnia and Herzegovina consists of two entities (entities): the Federation of Bosnia and Herzegovina and the Republika Srpska.

The largest cities: Sarajevo, Banja Luka, Tuzla, Mostar, Zenica.

The function of the head of state is performed by a collective body – the Presidium of Bosnia and Herzegovina, which consists of three representatives of the state-forming peoples. The highest legislative body is the Parliamentary Assembly (Parliament), which consists of two chambers (the House of Peoples and the House of Representatives). The highest body of executive power is the Council of Ministers.

Presidium of Bosnia and Herzegovina: B. Paravac (Serb), S. Tihic (Bosnjak) and D. Covic (Croat) (2003).

Collegium of the House of Peoples: V. Yukic (Croat), G. Milojevic (Serb) and M. Pamuk (Boshnak).

Board of the House of Representatives: S. Jafarovich (Bosnjak), N. Shpirich (Serb) and M. Raguzh (Croat).

The members of the Presidium of Bosnia and Herzegovina and the leadership of the parliamentary chambers rotate in place of the presiding officer every 8 months.

Head of the Council of Ministers – A. Terzic.

Members of the Presidium of Bosnia and Herzegovina and deputies of the House of Representatives are elected by direct secret ballot separately in each entity (a Serbian representative in the Presidium and 1/3 of the deputies of the House of Representatives from the Republika Srpska, representatives of Bosniaks and Croats in the Presidium and 2/3 of the deputies of the House of Representatives from the Federation of Bosnia and Herzegovina). The term of office is 4 years (the current composition was elected in 2002). The House of Nations (5 Serbs, 5 Bosniaks and 5 Croats) is formed by the Parliaments of the Entities.

Entities (the Federation of Bosnia and Herzegovina and the Republika Srpska) have broad powers with elements of state independence and have their own constitutions. The functions of executive and legislative power in each of the Entities are carried out by the president, government and parliament, which act virtually independently of the central authorities.

The party system is built on a national basis. The leading parties represent Serbs, Croats and Bosniaks: Serbian Democratic Party, Croatian Democratic Commonwealth, Democratic Action Party. Attempts are being made to create multi-ethnic parties (the most influential of them is the Social Democratic Party of Bosnia and Herzegovina).

Domestic policy is aimed at the implementation of the Dayton Agreement, which provides for the strengthening of state institutions, the return of refugees, the settlement of interethnic relations, and the modernization of the economy. A significant influence on the internal life of the country has a broad international presence (peacekeeping military contingent, the institution of the High Representative, etc.).

The main foreign policy priorities are integration into European and Euro-Atlantic structures and regional cooperation.

The armed forces in Bosnia and Herzegovina are represented by two independent armies of the Federation of Bosnia and Herzegovina and the Republika Srpska in a ratio of 2: 1. The total strength is approx. 12 thousand people

Bosnia and Herzegovina has had diplomatic relations with the Russian Federation since 1995.

Economy of Bosnia and Herzegovina

GDP – 5.1 billion US dollars, GDP per capita – 1194 US dollars, the number of employed – 625 thousand people, unemployed – 435.5 thousand people, unemployment rate 41%, inflation – 0.2% (2001).

Sectoral structure of the economy (in terms of contribution to GDP): industry – 25.3%, agriculture – 11.9%, services – 62.8%

The most important industries are: ferrous and non-ferrous metallurgy, production of electricity and building materials, metalworking, textile, leather and footwear, petrochemical, woodworking, food.

Agriculture: crop production, incl. grain farming (corn, wheat), horticulture, vegetable growing, viticulture, industrial crops (flax, tobacco, olives, sugar beets); grazing (cattle, sheep).

Transport: railways (1031 km, traffic volume 3.2 million tons), asphalt roads (3788 km), airports in Sarajevo (280 thousand people per year), Mostar (100 thousand people), Banja Luka (40 thousand people), Tuzla (special transportation).

Communication – telephone, postal, telegraph, teletype, radio, Internet, etc.

The tourism sector is in the process of recovery (before the military conflict, tourism revenues amounted to 2.5% of GDP).

The economic policy is focused on two directions: the restoration of the economy destroyed during the hostilities and its reform on a market basis. Social problems are solved largely through foreign financial assistance.

The Central Bank of Bosnia and Herzegovina is pursuing a policy independent of the Bosnian authorities aimed at firmly supporting the exchange rate of the local currency KM against the euro. As a result, there is practically no inflation in the country, which is achieved essentially by non-economic methods. The banking system is in its infancy (40 commercial banks operate, some of them with foreign capital).

The state budget (KM 530 million for 2003) is formed on the basis of contributions from entities and performs limited functions: servicing external debt and financing the activities of national bodies. In the tax sphere, a process of reform is underway with the aim of introducing a single value added tax in the country. Domestic debt – approx. 8 billion KM, external – 5 billion KM.

The average salary is 686 KM.

The foreign economic sphere is distinguished by a significant trade deficit (export – 2.1 billion KM, import – 8.2 billion KM, 2002). Export structure – raw and processed aluminium, electricity, timber, textiles, leather goods; import – oil and oil products, food industry products, machinery and equipment, electronics. Main trading partners: Croatia, Italy, Germany, Slovenia, Serbia and Montenegro.

Science and culture of Bosnia and Herzegovina

Bosnia and Herzegovina has a three-tier education system. The first stage is the basic compulsory 8-year general education school, the second is a 4-year gymnasium or secondary vocational school, and the third is universities (4-5 years of study). The main universities are in Sarajevo, Banja Luka and Mostar. The largest scientific center is the Academy of Sciences and Arts of Bosnia and Herzegovina.

The culture of Bosnia and Herzegovina was formed under the influence of various traditions. The surviving ancient buildings bear the imprint of the Roman era, the Middle Ages are distinguished by a mixture of Byzantine and Central European styles. Under the Turks, numerous mosques, madrasahs and bridges were created, many of which became widely known architectural monuments (Begova and Ali Pasha mosques in Sarajevo, the Old Bridge in Mostar, the bridge in Visegrad, etc.). For con. 19 – beg. 20th century typical imitation of Eastern and Renaissance culture (the building of the city hall “Vechnica” in Sarajevo). Along with mosques, majestic Orthodox and Catholic churches have been created here (the Church of the Holy Virgin and the Cathedral in Sarajevo).

The complex and dramatic history of this country has left a significant imprint on Bosnian literature and art. The best works are devoted to the philosophical understanding of the difficult fate of the Bosnian peoples (novels by Nobel laureate I. Andrić and M. Selimovich, paintings by I. Muezinovich, etc.). The work of internationally recognized film directors E. Kusturica and D. Tanovich is connected with Bosnia and Herzegovina.

The purposes of the post-war restoration of the cultural traditions of Bosnia and Herzegovina are the international events held annually in Sarajevo: the Sarajevo Winter and Bascarshia Nights music festivals, the Experimental Theater Festival, and the Sarajevo Film Festival.

Economy of Bosnia and Herzegovina

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