CB foresees 3-4 percent increase in economic growth next year

Governor of the Central Bank of Kosovo, Fehmi Mehmeti, said today during the end-of-year conference that Kosovo is expected to have economic growth of 3 to 4 percent in 2023. He said the predictions are the same as those of the International Monetary Fund.

Mehmeti said that Kosovo’s economy was impacted by global developments, such as Russia’s war in Ukraine, which cut off the supply chain.

“Kosovo’s economy started 2022 with a better perspective as a result of a successful year in 2021 and which was characterized by 10.75 percent growth. However, in 2022, the change in global dynamics and the consequences of the war in Ukraine, accompanied by increased inflation, changes in monetary policies, increased interest rates, and a slower pace in world trade as a result of the stop in the supply chain was reflected in Kosovo too,” he said.

Mehmeti also talked about the remittances which make up an important component of Kosovo’s economy. He said that this year remittances amounted to over €1 billion and a 5.5 percent increase.