|GDP, current US$ billion||6.6|
|GDP per capita, current US$
|Life Expectancy at Birth, years (2014)||71|
Kosovo is a parliamentary republic. It declared independence on February 17, 2008 and is recognized as an independent country by 114 out of 193 United Nations members and by 23 out of 28 EU members. Kosovo is a potential candidate for EU membership and accelerated its integration process with the signing of the Stabilization Association Agreement in October 2015, which entered into force in April 2016.
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)—and controls a majority of over two-thirds of seats in parliament, with regular parliamentary elections scheduled for late spring/early summer 2018.
Although Kosovo’s economic growth has outperformed its neighbors and been largely inclusive, it has not been sufficient to sufficiently 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 to fuel domestic consumption.
Kosovo’s current growth strategy needs to be focused on addressing the infrastructure bottleneck in energy, creating an environment more conducive to private sector development, equipping its young population with the right skills to make them attractive to employers, and building up governance and the rule of law to fully reap the benefits of EU integration, unleash productivity gains, and create quality jobs and inclusion.
Last Updated: Apr 20, 2017