8 hours agoWorld Bank exposes Kurti: Kosovo poorest country in region, Europe
Periskopi(a year ago)
(a year ago)Kosovo continues to have the lowest per capita income, compared to the average of countries in the region and the European Union. According to the World Bank, the poverty rate in Kosovo remains high, 19.2 percent. According to this international financial institution, the country lags behind its neighbours with Brto Local Product per capita. [...]
According to the World Bank, the poverty rate in Kosovo remains high, 19.2 percent.
According to this international financial institution, the country lags behind its neighbours with Brto Local Product per capita, which totals only 5,889 euros.
While Luxembourg (137,839 euros), Ireland, the Netherlands, Denmark and Austria are the five EU countries with the highest per capita income.
World Bank Deputy Manager for Kosovo Jane Spruster in an interview for Kosovo Press says that to achieve sustainable progress in reducing poverty, Kosovo must move to a model of competitive economic growth that creates more high-quality jobs, especially for the new population. According to it through these measures, Kosovo has the potential to bridge the income gap with EU countries and create a brighter future for its population.
Spouter also talks about World Bank projections regarding Kosovo's economic growth during 2025. In addition, it tells of projects and financial amounts in loans and grants expected to be divided for Kosovo by 2025.
For Kosovo, Press Sproucster says that economic growth is projected to be 3.8 percent for 2024 and up to 4 percent in the medium term.
According to her, with growth expected to accelerate, the World Bank predicts poverty will decrease from 19.2 percent to 171 percent in 2025.
In the following year, the World Bank has supported millions of projects in our country to strengthen digital governance, investment in early education and child care, and strengthening the health sector.
Spouter points out that the World Bank is expected to support Kosovo with about $100m in loans and grants for financial sector development projects and facilitate trade and transport.
Also, according to the World Bank, Kosovo continues to have the largest number of unemployment in the region. According to the latest report, only 37 percent of the working population are employed.
According to the WB, Kosovo faces the need to undertake reforms, including implementation of a new energy strategy and improved water safety.
