Eurasia Press & News
Kosovo has recorded stable economic progress while reducing the poverty rate and increasing per capita income, according to The World Bank, which approved the new Country Partnership Framework for the fiscal years 2023-2037.
The World Bank found an increase of nearly 50% in per capita income and a 35% reduction in poverty, demonstrating a successful transition from a growth model based on high dependence on foreign aid.
Kosovo now leaves behind “peer countries with similar per capita incomes, thanks to the continued expansion of consumption and investment, driven by strong from diaspora inflows, public investment in infrastructure and financial deepening, in the conditions of a stable fiscal situation and a low inflation environment,” the World Bank stated in a press release.
While there are improvements, the issue of poverty and unemployment remains.
On this note, the World Bank (WB) said that “the new strategy for Kosovo highlights priorities for the World Bank Group’s engagement in the country over the next five years, which will contribute to greater efficiency and quality of public service, more formal jobs in the private sector and increased environmental sustainability.”
The WB further said, “Kosovo can benefit from the reorientation of the economy towards production and export, increasing better employment for all and ensuring sustainable development that protects the environment for future generations”.
The new strategy of the World Bank Group supports Kosovo’s aspiration to achieve this transformation and to be fully integrated into regional, European and international institutions.
Kosovo applied for EU membership in December 2022 but will face some hurdles along the way, including convincing five member states to recognise its sovereignty. They are Cyprus, Spain, Slovakia, Romania, and Greece.
Meanwhile, the EU envoy for Kosovo-Serbia dialogue, Miroslav Lajcak, is scheduled to pay a last-minute visit to Pristina on Thursday. He will meet with Prime Minister Albin Kurti and other stakeholders to discuss the next meeting between Belgrade and Pristina in the framework of the EU-facilitated dialogue to normalise relations.
The key issue on the agenda is expected to be the divergence of views on establishing the Association of Serb Municipalities. The draft presented by the EU team was rejected as unconstitutional by Kurti, who gave his own version for consideration.
