Moody's: Slow growth in Bosnia, Herzegovina

Moody's Investors Service said in a new report that Bosnia and Herzegovina's B2 government bond ratings are based on the country's low economic and institutional strength, medium level of government financial strength and high susceptibility to event risk.

The country's economic strength is assessed as low due to its low wealth and the small and undiversified economy, Moody's said.

Although the economy has managed to muddle through the global crisis with a relatively modest contraction, a robust recovery is not expected in the near future, the agency said.

Moody's said it expects economic growth to slow from the buoyant rates experienced in 2002 through 2008 as export demand from the major European economies is expected to be rather modest.

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