BQ: Kosovo marked economic decline of 3.9 per cent in 2020

Based on the report released by the CEC, Kosovo during 2020 has suffered a decline of up to 3.9 per cent in the economy.

The Kosovo Central Bank has published a report on its work during 2020. Until developments are highlighted, which, according to this institution, have occurred, it mentions that Kosovo's economy has been declining.

Kosovo's <x0 per cent economy is estimated to have scored 3.9 per cent in 2020. During 2020, Kosovo's economy continued to have fiscal and price stability. Public debt in 2020 has reached 1.5 billion euros, or 21.8 per cent of BPV”, the CEC communiqué says.

However, even though Kosovo marked a decline in the economy in fiscal stability and prices have suffered no play, according to the CEC.

The overall price level in Kosovo, expressed through the consumer price index, has marked the rate of 0.2 per cent in 2020. The price movement in Kosovo continues to be determined mainly by the price movement in international markets, as a result of Kosovo's high dependence on imports. The financial system, despite the difficulties caused by the pandemic situation, continues to stabilise and have a very important role in Kosovo's economic development”, the report says further.

Also published was the report on the public debt, which reportedly reached 1.5 billion euros in 2020, or 21.8 per cent gross domestic production.

The BEC says that in addition to the difficulties caused by the pandemic, the financial system has managed to stabilize and play an important role in the country's economic development.