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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.

Kosovo, Republic of

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The Federal Republic of Yugoslavia is faced with the task of stabilizing and reviving a devastated economy after years of military conflicts, sanctions, and economic mismanagement. A weakened institutional capacity and the still evolving political situation is a cause for concern. A short-term macroeconomic strategy is required to bring down inflation. The fiscal position should be improved, and the continued incurrence of expenditure arrears should be avoided. The government should adopt a comprehensive economic program of stabilization and reform that can be supported by the IMF.

Banks and Banking --- Budgeting --- Exports and Imports --- Public Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Lending and Debt Problems --- National Budget --- Budget Systems --- National Government Expenditures and Related Policies: General --- Banking --- International economics --- Budgeting & financial management --- Public finance & taxation --- Arrears --- Commercial banks --- Budget planning and preparation --- Expenditure --- External debt --- Public financial management (PFM) --- Financial institutions --- Banks and banking --- Debts, External --- Budget --- Expenditures, Public --- Kosovo, Republic of

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This paper assesses the sustainability of the public pension system, discusses recent and proposed changes to veterans’ benefits, and reviews the effectiveness of social assistance in Kosovo. The social transfer programs created in the wake of Kosovo’s independence are narrower in scope than similar programs in other European emerging economies. Poverty, the main policy challenge of the country, can be addressed through employment-friendly economic growth and pro-poor social spending. Kosovo’s highly inequitable current system of social cash transfer represents a departure from the fiscally sustainable and conceptually homogenous structure of the early 2000s.

Labor --- Macroeconomics --- Public Finance --- Demography --- Nonwage Labor Costs and Benefits --- Private Pensions --- Social Security and Public Pensions --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Aggregate Factor Income Distribution --- Labor Economics: General --- National Government Expenditures and Welfare Programs --- Pensions --- Population & demography --- Labour --- income economics --- Public finance & taxation --- Pension spending --- Aging --- Income --- Expenditure --- Population and demographics --- National accounts --- Social protection spending --- Population aging --- Labor economics --- Expenditures, Public --- Kosovo, Republic of

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This paper discusses Kosovo’s Fifth Review Under the Stand-by Arrangement. All end-August 2013 and continuous performance criteria were met, as a renewed shortfall in customs collection was over-compensated by underexecution of spending. A prior action on issuing a government decision that specifies the nonallocation of €88 million across expenditure categories was also met. The applicable structural benchmarks were met on substance. Missed by small margins were the indicative targets on the nonaccumulation of domestic payments arrears by the central and general governments. The IMF staff supports the authorities’ request for completion of the fifth review under the Stand-By Arrangement.

Kosovo --- Economic conditions. --- Economic policy. --- Banks and Banking --- Budgeting --- Financial Risk Management --- Public Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: Government Policy and Regulation --- National Budget --- Budget Systems --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- National Government Expenditures and Related Policies: General --- Banking --- Economic & financial crises & disasters --- Budgeting & financial management --- Public finance & taxation --- Lender of last resort --- Budget planning and preparation --- Capital spending --- Commercial banks --- Public financial management (PFM) --- Financial crises --- Expenditure --- Financial institutions --- Banks and banking --- Budget --- Capital investments --- Banks and banking, Central --- Expenditures, Public --- Kosovo, Republic of

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This 2015 Article IV Consultation highlights that growth in Kosovo has proven relatively resilient and stronger than in its western Balkan neighbors, averaging slightly more than 3 percent over the last five years. Steady remittances from the diaspora living in advanced European economies continue to be a key driver of growth, supporting as they have private consumption and investment. Medium-term growth prospects of some 3.5 percent per year, while reasonable, are not strong enough to steadily lift incomes towards regional standards, or to create enough jobs in a country with very high unemployment. Kosovo’s banks remain liquid, well capitalized, and profitable. Nonperforming loans ratios are slightly elevated at 8.4 percent, but are stable and fully provisioned.

Commercial law -- Great Britain. --- Electronic commerce -- Law and legislation -- Great Britain. --- Intellectual property -- Great Britain. --- Internet -- Law and legislation -- Great Britain. --- Internet -- Law and legislation. --- Web sites -- Law and legislation -- Great Britain. --- Business & Economics --- Economic History --- Banks and Banking --- Finance: General --- Labor --- Macroeconomics --- Statistics --- Public Finance --- Wages, Compensation, and Labor Costs: General --- Fiscal Policy --- Aggregate Factor Income Distribution --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Price Level --- Inflation --- Deflation --- Debt --- Debt Management --- Sovereign Debt --- Labour --- income economics --- Banking --- Econometrics & economic statistics --- Finance --- Public finance & taxation --- Public sector wages --- Fiscal rules --- Income --- Wages --- Fiscal policy --- National accounts --- Public debt --- Banks and banking --- Price indexes --- Debts, Public --- Kosovo --- Kosovo, Republic of