TRANZICIJSKI IZAZOVI U ZEMLJAMA ZAPADNOG BALKANA SA POSEBNIM OSVRTOM NA BOSNU I HERCEGOVINU/ TRANSITION CHALLENGES IN WESTERN BALKAN COUNTRIES WITH SPECIAL FOCUS ON BOSNIA AND HERZEGOVINA

Abstract

The development strategy represents a set of (complex) coordinated activities wich for predetermined period of time lead to the realization of the existing basic goals of economic and social development. Bosnia and Herzegovina does not have a comprehensive and well thought out strategic development program for a longer period. Planning socio- economic development in Bosnia and Herzegovina is not regulated by law, nor is there a unique concept and methodology of planning at any level of government. Many of the problems that are common with other Western Balkan countries, such as underdeveloped institutions, low capacity of the civil service, and a weak judiciary have proliferated in BiH. This means that business in BiH is harder than in many other countries in the region, although local companies eventually learned how to work around various obstacles. The key success of BiH is stable political situation. Therefore, it is necessary to achieve economic reforms, improve the business environment, making debt management strategy, and improve fiscal coordination.