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Get to Know About Kosovo
Kosovo is a self-declared independent nation in the Balkans region of Europe. Its recognition as an independent country is still controversial from the backdrop of Serbia and Russia and other EU members not regarding it as so. The capital and the largest city is Pristina.
Kosovars are ethnically Albanians with the ancestry forming 92 percent of the population. They specifically speak Gheg Albanian with the majority practicing the Islamic faith. Kosovo’s population stands at 1.8 million inhabitants.
Based on the Global Economic Prospects 2019 report, Kosovo’s economy is projected to register a GDP rate of 4.5 percent. The main indicators can be associated with both public and private investments, including foreign direct investment, which means doing business in Kosovo remains up high. In the past, the economy hanged mostly on household consumption powered by remittance; however, the focus on productivity and increasing export capacity has greatly impacted the economy.
Despite some positivity, doing business in Kosovo remains volatile as capital investments seem to be under-implemented and financing of unproductive recurrent expenditure. Again, the social expenditure (pension and wages), Brexit, and overall economic performance of the EU continue to dampen the economic growth in Kosovo. Kosovo’s private sector is less dynamic and needs diversification to attract qualified and skilled workers. Similarly, the adoption of new technologies and innovation needs the implementation to boost investor confidence and attract foreign direct investment; therefore, transferability of entrepreneurial skills and resources.