3 minutes agoThe amount of money the diaspora sent this year
Periskopi(3 years ago)
(3 years ago)No doubt the Albanian diaspora plays an important role in Kosovo's economy. According to recent statistics, the diaspora has sent 1 billion euros of remittances to Kosovo by October of this year, which compared to last year represents a 5.5 per cent increase, albinfo.ch records. Meanwhile, it referred to data, economic growth for [...]
Meanwhile, it refers to data, economic growth for this year goes up to four percent. So said Central Bank of Kosovo Governor Fehmi Mehmeti.
Based on analysis, the Kosovo Central Bank forecasts economic growth in 2023 in the country to rise to 3 to 4 percent.
BQK Governor Fehmi Mehmeti, at the end-of-year conference, has said that BQC projections are similar to those of the International Monetary Fund (FMN).
Kosovo's “Eonomia began in 2022 with a good perspective as a result of a successful 2021 year. It was marked by 10.75 percent increase. During 2022, changing global dynamics, and the aftermath of the war were accompanied by increasing inflation, changing monetary policies, increasing interest rates, and slowing global trade growth. According to BQC's assessment this year, our forecasts are that economic growth in the country behaves 3 to 4 percent. Like predictions the IMF gives”, Mehmeti has said.
Average inflation by November 2022 reached 11.2 percent
Mehmeti, has said that the average inflation rate by November 2022 has reached 11.2 per cent, which is 3.4 per cent higher than compared to the previous year.
According to him, Kosovo has built a soundly financed system in the country and has proved that it can also cope with crises such as the Russian pandemic and aggression in Ukraine.
While in terms of the banking sector, it has been said that by October 2022 the value of new loans reached 1.56 billion euros, or 13.6 percent growth.
Also, the year 2022 marked a rapid pace of growth even for remittances sent from the diaspora to Kosovo.
The value of remittances accepted by the end of October 2022 is 1 billion euros, representing annual growth of 5.5 percent.
“Based on data recorded by September this year, the spending of non-residents in Kosovo, most of which are from the diaspora, was in many of the 1.48 billion euros, which represents a 26.1 per cent increase compared to the same period last year”.
The BEC governor said there is an increase in new loans issued by the banking sector.
By October of this year, the value of new loans issued by the banking sector was 1.59 billion euros, representing an annual increase of 13. 6 percent, since the total value of active loans in the banking sector until September 2022 was 4. 27 billion euros, which represents an annual increase of 18. 4 percent compared to the same period last year”.
While there has also been an increase in imports of goods for 24.6 percent, or 4.2 billion euros, while also of exports, where it has reached the value of 688m euros, or a 27.1 percent annual increase.
“As a result, the trade deficit is 3.47 billion euros, or an increase of 24.2 percent”.
