GAP publishes report on pandemic’s impact on Kosovo economy

Prishtina-based GAP Institute for Advanced Institute published today a report on the impact of the COVID – 19 pandemic on Kosovo’s economy.

The report notes that prevention measures against the pandemic caused the highest fall in domestic production since the end of the war in Kosovo, “causing the GDP to fall by 9.28 percent in the second quarter of the year”.

The report says that economic activities that marked an increase during the second quarter were the extraction industry, processing, electricity, and water supply with 19.8 percent and information and communication with 29.6 percent. “All other industries had a drop in revenues. The highest decline was recorded in the construction industry with -47.08 percent, and trade, transport, accommodation, and gastronomy with -24.4 percent,” the report says.

“During the first half of the year, the industries declared around €584 million or 11 percent less turnover in the Kosovo Tax Administration compared to the same period from the previous year”.