4 minutes agoeuractiv: Inflation in Kosovo achieves unprecedented historical proportions
Periskopi(4 years ago)
(4 years ago)Inflation in Kosovo has increased by 13% in the past 12 months, with trade increasing with the neighbouring enemy Serbia, a media network specialising by the European Union has reported. According to official statistics, fuel costs have increased by 9.2%, vegetables and fruit by 2%, and household furniture and articles by 2.5%. But [...]
According to official statistics, fuel costs have increased by 9.2%, vegetables and fruit by 2%, and household furniture and articles by 2.5%. But even more sensitive increases have been noted in solid fuels and firewood, which rose to price by 60.2% compared to a year ago, as well as food oils by nearly 50%, bread by 33.5%, dairy by 25.8% and meat by 22%.
The average salary in Kosovo is around $500 per person per month, but the minimum wage is approximately half that figure, with many living below the poverty limit.
“Meanwhile, Kosovo has increased its imports from Serbia by 30% in recent months, despite tensions between the two countries for Belgrade's refusal to recognise Pristina's sovereignty”, says Euractiv.
Democratic League of Kosovo deputy Avdullah Hoti was also quoted as saying that “in August of this year compared to August a year ago that imports from Albania have been lowered for 10%, but from Serbia have grown by 30%<1>.
According to him, it questions statements of significant economic growth of local production.
“The deepening of the trade deficit, based on this data from the Statistics Agency for January-August 2022 period compared to the same period last year, Kosovo exports have increased for 150m euros, but imports have increased for 800m euros, and this has brought the trade deficit to 3 billion euros, which is an increase of 56% compared to the previous year”, Hoti, quoted by this media network, said.
But a new railway between Albania and Kosovo could soon change things. The Durres-Pristina Railways are currently in the feasibility phase since last week.
This new railway line will initially meet Albania and Kosovo's transport needs, as well as the needs of Western Balkan countries and beyond, including Montenegro, northern Macedonia, Serbia, Romania, Bulgaria and other countries that are also linked to the Hekurudor X Corridor (December) and the Hekurudor Corridor IV (four)” says in terms of reference for the announced procedure.
Kosovo in early October officially opened the customs office at the Albanian port, enabling easier passage of goods towards the capital.
