2 hours agoWorld Bank predicts contraction of Kosovo economy for 2020
Periskopi(6 years ago)
(6 years ago)The World Bank predicts that Kosovo's economy, in a similar way with other countries in the region, will suffer a contraction in 2020, even if control measures have been raised during the second quarter of the year, as a result of negative effects of the coronary pandemic on economic activity. “Except for temporary closure of [...]
The World Bank predicts that Kosovo's economy, in a similar way with other countries in the region, will suffer a contraction in 2020, even if control measures have been raised during the second quarter of the year, as a result of negative effects of the coronary pandemic on economic activity.
In addition to the temporary closure of major economic activities and loss of revenues, the impact of the COVID-19 explosion in Kosovo will be largely accompanied by lower remittances led by diaspora, and on building housing, but the economy is expected to be restored to 2021x1>, the report said.
However, if the explosion continues beyond the second quarter of 2020, according to the World Bank, the impact of COVIDD-19 will have the most serious impact on economic supply, leading to long-term losses in workplaces and production.
The World Bank is completing a programme of activities to help Kosovo manage and ease the impact of the crisis, including a new quick project to respond to urgent health sector priorities and protect household revenues.
There will also be a restructuring of already approved projects to mobilise funds in support of NVMs and eventually a credit for development policy operation to support economic recovery and help finance the budget. collectively, these programmes are likely to exceed 120m euros, the World Bank's report on Kosovo said.
