World Bank releases report, that's what economic growth is expected for Kosovo in 2023

According to the World Bank, real GDP growth for the past year was 3.5%. Even in 2023 growth is expected to be modest, 3.7%. Investments will contribute in this respect.

Full report:

According to the World Bank's Economic Update for Europe and Central Asia, published today, the conditions of the trade shock sparked by Russia's invasion of Ukraine and the accompanying energy crisis continued to affect economic activity in Kosovo in 2022, but the economy showed flexibility. BPV's real growth (GDP) went to 3.5 percent in 2022, supported by increased private consumption and export. Inflation reached the record level, limiting available revenues. The inflationary crisis came at a serious fiscal cost; however, the fiscal balance has improved, supported by positive income performance.

BPV growth is expected to grow modestly, reaching 3.7 percent in 2023. The considerable pulse in private consumption and exports of services from diaspora flows during 2021 and 2022 is expected to fade against an expected slowdown in EU growth. The government's contribution to private consumption will also be more limited. However, an increase in public wage spending after implementing the new Public Salaries Law will increase consumption growth. After registering a real contraction in 2022, investments are expected to make a positive contribution in 2023. A gradual stabilisation of international prices is expected to boost investment confidence.