Kosovo’s economy is projected to grow by 4.3% in 2024, with strong growth in loans and remittances, according to the country’s central bank.
(TIR-FAX) – Kosovo’s economy is projected to grow by 4.3% in 2024, bolstered by increased loans and a surge in remittances, according to the central bank.
Governor Ahmet Ismaili shared the forecast in a year-end briefing, highlighting a 15.7% rise in individual loans compared to last year. By November 2024, total loans had reached €5.668 billion—an increase of €768.9 million since December 2023.
Meanwhile, inflation has remained relatively low, averaging 1.6% for the year. This trend is expected to continue through 2025. Remittances, which play a vital role in Kosovo’s economy, also saw significant growth. By October, remittances had reached €1.1 billion and are expected to hit €1.3 billion by the end of the year, partly due to the upcoming visa liberalization for Kosovars in 2025.
Ismaili praised the stability of the financial system, which he described as liquid, well-capitalized, and resilient. He also pointed out improvements in financial inclusion, with more citizens gaining access to banking services.
Additionally, the Central Bank of Kosovo awarded its “Young Economist” prize, aiming to inspire future generations of economic researchers.
