April 19 (SeeNews) - The International Monetary Fund (IMF) has raised its forecast for Kosovo's 2017 economic growth to a real 3.5% from 3.3% projected in October, according to the latest edition of the IMF's World Economic Outlook (WEO) report.
Kosovo's economic growth is expected to speed up to 3.6% in 2018 and to reach 4.0% in 2022, the IMF's April WEO report showed on Tuesday.
Kosovo's economy expanded by 3.6% in 2016, the second-highest GDP growth rate in Southeastern Europe after Romania's 4.8%.
The Fund expects annual average consumer price inflation in Kosovo to acelerate from 0.3% in 2016 to 0.9% % in 2017 and 1.8% in 2018.
Kosovo's current account deficit is projected to rise to 10.8% of GDP in 2017 and 11.1% in 2018, from 9.7% in 2016, the IMF said. In 2022, the current account deficit is forecast at 9.7% of GDP.
In comparison, the World Bank sees Kosovo's economy growing by 3.9% in 2017 and 4.2% in 2018. According to the World Bank's Spring 2017 Western Balkans Regular Economic Report published earlier this month, the main drivers of growth will be investments and consumption.