Kosovo's fragile economic journey in 12 years of state

0
207

The Republic of Kosovo celebrates today its 12th birthday, as it was declared on February 17, 2008 a sovereign and independent state. It has been recognized so far by a total of 116 countries.

The twelve years of independence have been accompanied by various developments in the political and economic-social sphere of the country.

According to experts in 12 years, economic growth in Kosovo has averaged about 4%; insufficient to mitigate the problems faced by citizens and to curb their flight to Western countries.

Unemployment and poverty are two of the biggest problems facing Kosovo today. Referring to the data of the Kosovo Agency of Statistics, unemployment in Kosovo, during 2019, was 29.6 percent. Out of over 1.2 million citizens of Kosovo, who are estimated to be potentially able to work, about 350 thousand citizens are employed. Meanwhile, over 23% of Kosovo citizens live in poverty.

According to the data of the Central Bank of Kosovo (CBK), Kosovo started the year of independence, in 2008, with an economic growth of over 5%, a rate which has not reached in these 12 years.

Economic growth in Kosovo, according to the annual reports of the CBK, is mainly generated by the growth of private consumption and public investment.

 

 

 

Reply

Please write your comment!
Please enter your name here