|GDP, current US$ billion||6.4|
|GDP per capita, current US$
|Life Expectancy at Birth, years||70.5|
Kosovo is a parliamentary republic. It declared independence on February 17, 2008 and is recognized as an independent country by 109 out of 193 United Nations members and by 23 out of 28 EU members. Kosovo is a potential candidate for EU membership, and in recent years, it has accelerated its EU integration process.
The current governing coalition includes the two biggest political parties in the country— the Democratic Party of Kosovo (PDK) and the Democratic League of Kosovo (LDK)—that together control a majority of over two-thirds of seats in parliament, with parliamentary elections again scheduled for June 2018.
Although Kosovo’s economic growth has outperformed its neighbors and been largely inclusive, it has not been sufficient to reduce the high rates of unemployment; provide formal jobs, particularly for women and youth; or reverse the trend of large-scale outmigration. The current growth model relies heavily on remittances and aid. This dependency, together with Kosovo’s structural characteristics, put pressure on competitiveness and productivity, limiting job creation and business expansion.
Kosovo’s current growth strategy needs to be adapted through reforms related to governance, macroeconomic, structural, and social policies. Addressing the infrastructure bottleneck in energy and building up governance and the rule of law are top priority areas in aiming to fully reap the benefits of EU integration, unleashing productivity gains, and creating quality jobs and inclusion.
Last Updated: Oct 07, 2016