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Since the start of the war in Ukraine, electricity prices in Europe have increased and become more volatile. This coupled with unreliable domestic electricity supply has led to significant stress for Kosovo’s energy sector and budget. This paper presents several scenarios characterized by alternative assumptions for European electricity prices and domestic electricity production in 2023 in order to gauge their potential impact on the budget and the economy. It also discusses the medium-term benefits, including in terms of increased energy security and reduced emissions and pollution, of diversifying domestic electricity generation away from lignite.
Money and Monetary Policy --- International Economics --- Investments: Energy --- Industries: Energy --- Taxation --- Public Finance --- Exports and Imports --- Monetary Policy --- International Agreements and Observance --- International Organizations --- Energy: Demand and Supply --- Prices --- Alternative Energy Sources --- Energy and the Macroeconomy --- Energy: Government Policy --- Energy Forecasting --- Electric Utilities --- Hydrocarbon Resources --- Trade Policy --- International Trade Organizations --- Trade: General --- Monetary economics --- International institutions --- Investment & securities --- Petroleum, oil & gas industries --- Public finance & taxation --- Energy industries & utilities --- International economics --- Monetary policy --- International organization --- Commodities --- Economic sectors --- Taxes --- Expenditure --- International trade --- International agencies --- Electric utilities --- Gas industry --- Tariff --- Expenditures, Public --- Kosovo, Republic of
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Since the start of the war in Ukraine, electricity prices in Europe have increased and become more volatile. This coupled with unreliable domestic electricity supply has led to significant stress for Kosovo’s energy sector and budget. This paper presents several scenarios characterized by alternative assumptions for European electricity prices and domestic electricity production in 2023 in order to gauge their potential impact on the budget and the economy. It also discusses the medium-term benefits, including in terms of increased energy security and reduced emissions and pollution, of diversifying domestic electricity generation away from lignite.
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Among western Balkan countries, Kosovo had the largest growth in tax revenue in percent of GDP over 2021-22. While part of this strong performance could be explained by increased activity, surging inflation, and buoyance, a sizable part of it is related to increased formalization. This paper analyzes the extent to which tax revenue increases may have grown due to gains in formalization, both of workers and businesses, by applying a simple accounting framework to disentangle the sources of tax collection increases.
Money and Monetary Policy --- International Economics --- Public Finance --- Taxation --- Personal Finance -Taxation --- Monetary Policy --- International Agreements and Observance --- International Organizations --- Taxation, Subsidies, and Revenue: General --- Informal Economy --- Underground Econom --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Business Taxes and Subsidies --- Monetary economics --- International institutions --- Public finance & taxation --- Monetary policy --- International organization --- Revenue administration --- Taxes --- Tax policy --- International agencies --- Revenue --- Tax administration and procedure --- Income tax --- Spendings tax --- Kosovo, Republic of
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Among western Balkan countries, Kosovo had the largest growth in tax revenue in percent of GDP over 2021-22. While part of this strong performance could be explained by increased activity, surging inflation, and buoyance, a sizable part of it is related to increased formalization. This paper analyzes the extent to which tax revenue increases may have grown due to gains in formalization, both of workers and businesses, by applying a simple accounting framework to disentangle the sources of tax collection increases.
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