Bosnia and Herzegovina (BiH) has failed to seize the opportunity to accelerate the transformation of the country through further reform.
The consequences of long-term stagnation are all too real; even before the pandemic, which will leave a legacy of high debt, displaced workers, growing inequality, and lost trust, the reality of life for far too many of BiH’s citizens was already one of poverty, unemployment, low pay or pensions, lack of opportunity and corruption, leading many of them to emigrate in search of a better life. For the country as a whole, this has put it on a trajectory of demographic, social and economic ill health that can no longer be ignored.
So, under the shadow of the greatest global crisis of our lifetimes, BiH citizens and its elected government advance into 2021 facing a stark choice; to continue doing things the same way and predictably getting the same results, or breaking the cycle with a different approach that delivers the growth and prosperity that is so naturally yearned for in every corner of the country. A new long-term vision for the country must also be forged that secures a balanced and resilient economy. It must also meet the challenges of climate change and harness digital and technological advancements that will shape the economy of the future.
Here at Pi Consulting, we firmly believe that if unity of purpose is intertwined with unity of approach, an effective movement for economic growth and prosperity - that brings together government, citizens, business, academia and the media amongst many others – can deliver meaningful reform results over the short to long-term, to the benefit of all, as well as steering BiH’s economy to evolve in line with European Union and global developments. We also believe that an ambitious and inclusive initiative of this kind could be transformative by offering a much-needed opportunity to reconnect the country, reinstalling a sense of vision of the country’s future, but also forging a domestic surge capacity that advances meaningful reforms from inception through to implementation.
This is an outline of our proposal for how such a new approach could work. Please let us know what you think, including the specific issues and reforms an initiative of this kind should focus on over the short, medium and long-term.
If a new initiative can be launched without lengthy delay, and it is advanced over the long term, 2021 could yet be recorded by history as the year BiH and its citizens decided to come together to deliver the economic growth and prosperity that is unequivocally in the interests of all.