February 19 (SeeNews) - The International Monetary Fund (IMF) said it expects Kosovo's gross domestic product (GDP) to rise by 4.5% in 2021 following an estimated 6% decrease in 2020.
The recovery of Kosovo's economy is expected to be supported by continued fiscal stimulus and the projected gradual relaxation of containment measures, the IMF said in a statement earlier this week upon concluding Article IV consultations with Kosovo.
Kosovo was highly impacted by the COVID-19 pandemic and the country's GDP growth will likely stay below pre-pandemic rates for an extended period, the IMF said, adding that a stronger implementation of structural reforms could mitigate the long-term effects of the crisis.
"The outlook remains subject to large uncertainty, and depends on the evolution of the pandemic, the speed of vaccinations, and political developments," the IMF noted.