Headwinds across the Balkans: economic growth slows down

ABSTRACT

This paper provides comparison of economic growth across the Balkans in terms of gross domestic product (GDP) growth. The economies of Western Balkans are suffering, supply chains are collapsing, and remittances may be cut off. The situation is no better among EU Members of the Balkans. In The consequences of the health crisis will be felt much more. Unemployment will rise and domestic demand has also suffered severely. Pandemic-related restrictions have impaired the functioning of the transport and supply chains. Over the first half of 2020, the impact of COVID-19 left its mark on the region's palm oil imports. With the exception of Greece, all major importers recorded a drop in demand. However, economic experts foresee strong recovery from 2021. With the upturn, opportunities for palm oil will return. The Malaysian Ministry of Plantation Industries and Commodities projects additional exports of 300,000 tonnes of processed palm oil to the Balkans.