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World Bank: Economic and employment growth in Kosovo

World Bank: Economic and employment growth in Kosovo GazetaExpress

Economic growth in Kosovo is expected to reach 4.4 percent in 2017, up from 3.4 percent in 2016, driven primarily by investment, and supported by consumption and a recovery in exports according to a World Bank report.

The World Bank Regular Economic Report (RER) that covers economic developments, prospects, and economic policies in the Western Balkans also concludes that jobs grew fastest in Kosovo, where employment went up by 8.5 percent year-on-year, supported by economic growth and a speeded-up public investment program; job creation was broadbased, reaching construction, manufacturing, retail and wholesale trade, accommodation, and agriculture. According to the report the fiscal deficit is projected to widen to 2 percent of GDP in 2017 because of a faster execution of capital projects, including Route 6 project, and an increase in social benefits. “Stronger Euro Area growth, an increase in production of base metals, high prices for nickel and lead globally, and a broad-based growth in the production of tradable goods and services are stimulating exports,” it is stated in the report. According to the World Bank the outlook is positive, with growth projected to reach 4.8 percent in 2018 and 2019, but projected upturn is subject to downside risks, including perceptions about political stability, and a possible shortage of capacity to move forward ambitious public investment plans.

World Bank says that economies in the Western Balkans continue to grow, with real GDP growth in the region expected to expand by 2.6 percent in 2017. Growth was stronger and investment-led in Albania, Kosovo, and Montenegro, and stable in Bosnia and Herzegovina, driven by consumption. 

    Date: 16 November 2017 13:28
    Author: GazetaExpress