The cost is equivalent to some 15 percent of Bosnia's 2013 gross domestic product (GDP) and will cause the economy to contract by 1.1 percent this year, compared to the growth of 2.2 percent that had been predicted before the floods, it said.
The estimates were made by experts from the EU, United Nations and World Bank along with local authorities.
It is only an "initial overall assessment of recovery needs" and "more verification work is needed" to provide more detailed numbers by sector, said Andy McGuffie, a spokesman of the EU delegation to Bosnia.
By Ruchi Singh
reporter
Park Sae-jin
swatchsjp@ajunews.com
