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A new strategy aims to assist the country in moving on a path toward more sustainable, export-oriented, and inclusive growth.
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.
The objective of the Competitiveness and Export Readiness Project for Kosovo is to support product certification for export markets, strengthen the capacity of export-oriented firms and reduce the cost of business inspections.
Growth projections in the Western Balkans region for 2018 have been revised upward and are now estimated to reach 3.5%. Growth was stimulated by higher public investment and consumption, while countries with higher growth rates boosted them mostly by investment and exports. Over 90,000 jobs were created in the first half of 2018, with new employment mostly in industry and services.
Kosovo and Albania are expected to grow at 4% this year. At 3.8%, Montenegro’s growth is projected to be 1 percentage point higher, although still lower than last year. Growth in Bosnia and Herzegovina continues to be stable at an estimated 3.2%. Serbia’s economy has rebounded to 3.5% growth after last year’s weather-related slowdown. Macedonia’s growth also rebounded to 2.5%, as investor confidence was Restored.