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Nov 23, 2017 16:15 EEST
PRISTINA (Kosovo), November 23 (SeeNews) – Kosovo should implement further reforms to improve its investment climate, the European Bank for Reconstruction and Development (EBRD) said.
“Key areas needing attention include enhancing the impact and effectiveness of the National Economic Development Council, strengthening the capacity of the Competition Authority, and supporting the implementation of the bankruptcy law and other commercial laws,” the EBRD said in its 2017-2018 Transition Report presented on Wednesday.
Kosovo should also further improve cross-border transport including the rehabilitation and improvements of major cross-border road and rail routes and improved capacity for the country’s air navigation services agency, the EBRD noted.
Fiscal stability should be preserved in order to bolster investor confidence.
"Kosovo has built up an enviable record of fiscal prudence, contributing to the low level of public debt, and it will be important to preserve these achievements," the EBRD said.
According to the report, short-term growth is likely to remain robust, at 3.7% in 2017 and 3.5%in 2018, supported by remittance inflows and critical investment in transport and energy infrastructure but downside risks remain significant.
"The recent political uncertainty may have an adverse effect on investor and consumer confidence and could delay key infrastructure projects, which are crucial for the country’s long-term development."
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