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IMF: Kosovo's economy will grow 3.8 percent in 2024

2024-06-04 10:47:00, Kosova & Bota CNA
IMF: Kosovo's economy will grow 3.8 percent in 2024
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The International Monetary Fund (IMF) predicts economic growth for Kosovo at 3.8 percent in 2024.

The IMF also estimates that Kosovo's economy continues to perform well, despite a challenging environment.

“Real GDP growth moderated to 3.3 percent in 2023 amid subdued external demand and is forecast to accelerate to 3.8 percent in 2024, driven by domestic demand.

Inflation has slowed significantly, reaching 2 percent year-on-year in the first quarter of 2024," the IMF announcement for Kosovo states.

It further states that fiscal policies, with an overall fiscal deficit of 0.2 percent of GDP in 2023, reflecting strong tax collection.

According to this institution, the overall deficit is projected to widen to around 1½ percent of GDP in 2024.

Bo Li, Deputy Managing Director and Acting Chairman of the Board, has stated that the Kosovo authorities continue to advance their economic and structural program.

"Further strengthening of public investment management remains key", his statement says.

It is also said that the first sovereign credit rating of Kosovo is a positive development that can help attract new foreign investors./Monitor

 





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