World Bank lowers Kosovo’s 2024 GDP f’cast to 3.7%

Kosovo’s 2023 GDP growth estimate stands at 3.1%, which is 0.1 percentage points (pp) lower than the January estimate, the World Bank said in its latest Western Balkans Outlook report.

From a regional standpoint, the World Bank forecasts a growth acceleration for the Western Balkans to 3.2% in 2024, compared to the estimated 2.6% expansion in 2023.

“While growth rates for individual countries are expected to be between 2.5 and 4 percent over the projection period, thus leading to average regional growth above the pre-pandemic trend, this is insufficient to provide faster convergence with the EU in terms of income per capita,” the World Bank said.

Economic growth may face obstacles due to cooling job markets, domestic inflationary pressures, and decreased investment due to weak growth in the Eurozone.