October 10 (SeeNews) - The International Monetary Fund (IMF) expects Kosovo's economy to grow by 3.8% this year, the global lender said on Tuesday, raising its April projection by 0.3 percentage points (pp).
Kosovo's gross domestic product (GDP) is expected to increase by 4% in 2024, 0.1 pp higher than the forecast made in April, the IMF said in the October edition of its World Economic Outlook report.
Last year, Kosovo's economic output expanded by 3.5%, according to the report.
Kosovo's average consumer price inflation is seen slowing down to 4.7% in 2023 from 11.7% last year, before further abating to 3.1% in 2024, the IMF said.
The country's current account deficit, which stood at 10.5% of GDP in 2022, is expected to shrink to 8.1% of GDP in 2023 and then fall further to 7.4% next year.
The IMF anticipates 2.4% growth in the economy of the Emerging and Developing Europe region in 2023, increasing ita April forecast by 1.1 percentage points.