After the years of war that took place between 1992 and 1995, Bosnia and Herzegovina has entered the processes of reconciliation, reconstruction and into the process of transition from centrally planned economy to the market economy. Because of nonexistence of sufficiently functional state institutions and because of political instability, difficulties of these processes have last until today. Existing economic and social problems of Bosnia and Herzegovina have however deepened negative effects of global economic crisis. In fact, it will not be exaggerated to say that Bosnia-Herzegovina is nearly twenty years under uninterrupted crisis. This article examines current results of dual process, namely process of reconstruction of economy of Bosnia and Herzegovina and its transition to market economy that started in 1996. It is concluded that economy of Bosnia and Herzegovina has reached certain macroeconomic stability, but that its welfare level remains low.
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