December 29 (SeeNews) - Kosovo's central bank expects a 4.2% expansion of the country's economy next year, with the projection for 2023 set at 3.4% as the year draws to a close, governor Ahmet Ismaili said.
In 2024, economic growth will be supported chiefly by domestic demand and exports, Ismaili said, as quoted in a press release on Thursday.
Kosovo's gross domestic product (GDP) rose by a real 2.97% year-on-year in the third quarter of 2023, after increasing by an annual 2.02% in the previous three-month period, the statistical office, ASK, said earlier. In 2022, Kosovo's GDP rose by 3.51%, after growing by 10.75% the year before.
The central bank projects that inflation will average 5.1% in 2023, as preliminary data suggests a slowdown to 2.9% in the fourth quarter.
Kosovo’s harmonised index of consumer prices advanced by 2.9% on the year in November, after increasing by an annual 3.3% in October, ASK said earlier.