Kosovo to Feel Global Recession

Economists in Kosovo say that there has not been adequate analysis on the impact of the global economic slowdown on the country, asking government and other relevant actors to undertake necessary measures to prepare for the crisis which will inevitably hit the newly independent state, they say. 

Shpend Ahmeti from Institute for Advanced Studies, believes that the world economy will experience its greatest recession this year since the World War II. “The World Bank report confirms what we have feared for this year. But the biggest problem will be to the poor and developing countries,” he said referring to a recent World Bank forecast for a global recession this year and for a collapse of world trade levels to their lowest level in 80 years. .

In response, Balkan countries have lowered their forecasts for economic growth.

Kosovo is among the poorest country in Europe with the official unemployment rate around 45 per cent and approximately 20 per cent of the population living under 1 dollar per day.

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