The Ministry of Finance, Labor and Transfers, the Central Bank of Kosovo and the International Monetary Fund held a press conference to conclude the Standstill Arrangement (SBA) Program for Kosovo in the amount of 100 million euros as well as the Resilience and Sustainability Facility in the amount of approximately 80 million euros.
Minister of Finance, Hekuran Murati, emphasized that Kosovo is the first country in Europe to benefit from this program, linking it to improving renewable energy policies and maintaining economic stability. He stated that during the two-year period, Kosovo has recorded the highest economic growth in the region.
"The program aims to support countries that perform well and Kosovo has become the first country in Europe to win this program. It has to do with the law on renewable energy, the program aims to preserve, stabilize and accelerate the preservation and growth of a sustainable economy. Kosovo has 16 million left from the program. During this two-year period, we have recorded the highest economic growth in the region. For the first time, we have exceeded 10 billion euros in gross domestic product. We have also recorded an increase in employment, which has influenced the increase in the minimum wage, pensions, and child benefits. All of this has been done while maintaining fiscal sustainability," said Minister Murati.
The Governor of the Central Bank of Kosovo, Ahmet Ismaili, said that the CBK is committed and has been positively assessed by the IMF.
"This achievement reflects the joint commitment to economic sustainability. The positive assessment of the IMF and we are proud of the progress we have achieved. Our commitment to our banking advancement has continued with other reforms of the CBK. The process will depend on constitutional laws, the fast payments project will enable infrastructure to progress. In terms of finance, the removal of fees to enable the support of large projects, we have approved the guideline that makes the expansion of banks. Banks continue to play an important role in the economy of Kosovo, all objectives have been successfully completed. ", emphasized the Governor of the CBK Ismaili.
The Head of the IMF Mission in Kosovo, David Amaglobeli, praised the significant progress achieved during the program, highlighting the strong economic growth of 4.1 percent, the highest in Europe. He also mentioned the increase in employment and wages, improved transparency, and the strengthening of the institutional capacities of the Central Bank of Kosovo.
"I am pleased that considerable progress has been achieved and the program has been successfully completed. During the program, we have seen strong economic growth of 4.1 percent, which is the highest in Europe. We have seen a significant increase in employment and wages. We have seen significant improvements. The reforms implemented to increase transparency have improved. In the financial sector, progress has been considerable, the institutional capacities of the CBK have improved. Kosovo is the first country to implement the RSF instrument, thanks to the measures. The authorities have managed to launch major projects that will significantly increase. We are ready to provide continued support to brighten the future", said Amaglobeli. /EO
