June 9 (SeeNews) - Kosovo's gross domestic product (GDP) will likely shrink by 4.5% this year, the World Bank said, revising its April forecast for a 1.6% contraction of the country's economy in 2020.
However, Kosovo's economy is projected to rebound to a 5.2% growth in 2021, the World Bank said in its June 2020 Global Economic Prospects report published late on Monday.
In its previous report in April, the bank warned that a prolongation of the Covid-related containment measures beyond the second quarter requires careful macro-prudential management as it could further slow down growth in 2020.
Kosovo's GDP grew 4.17% year-on-year in 2019, based on a preliminary estimate.