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Kosovo's GDP to grow 3.8% in 2022 - IMF

Kosovo's GDP to grow 3.8% in 2022 - IMF IMF/Creative Commons

PRISTINA (Kosovo), January 14 (SeeNews) - The International Monetary Fund (IMF) said it expects Kosovo's economic activity to expand by 3.8% in 2022 after growing by an estimated 7.5% in 2021.

Kosovo's projected economic growth in 2022 will be driven partially by strong economic momentum in 2021, as the country is seeing improved vaccination rates, renewed mobility, policy actions and high diaspora inflows, the global lender said in a statement earlier this week following Article IV consultations.

IMF also advised Kosovo's government to focus on structural policies, such as diversifying its growth engines, tackling informality, and creating the conditions for greener economic growth, in order to mitigate the longer-term effects of the pandemic.

"Uncertainty around the outlook remains high, and the pandemic continues to represent the main downside risk," the lender said.

Average inflation in Kosovo is forecast to reach 3.9% in 2022, IMF noted.

Kosovo's economy contracted by 5.3% in 2021, according to IMF's estimate.

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