Kosovo economy has performed relatively well, says Finance minister

Kosovo economy has performed relatively well, says Finance minister

Pristina, 12 June 2015/Independent Balkan News Agency

By Elton Tota

Finance Minister, Avdullah Hoti declared today that in the recent years, Kosovo’s economy has performed relatively well.

Hoti has mentioned the 3,5% economic growth, considering it as the highest one in the Balkan.

“However, we need much higher growth rates to cope with the increase of the labor force and in order to address structural problems”, Hoti declared in the Summit of Ministers of Finance and Governors dubbed “The financial future of the region, which is being held in Becic, Montenegro.

According to him, Kosovo is able to increase foreign debt to invest in capital projects that generate incomes and create new jobs.

“The current level of public debt in Kosovo continues to remain low, around 10% of GDP. This offers us a good opportunity to expand investments, in order to boost growth and create the necessary conditions for growth led by the private sector”, he said.

Hoti also added that competent institutions must be responsible in managing public funds.

“We must be responsible and improve the management of public finances where fiscal stability and growth are tied to each other. As politicians and as finance ministers, we have an extra responsibility to make sure that public finances are well managed and that they do not lead to failures. Therefore, we must keep in check the level of deficits, in order to make sure that public debt increases gradually and in a sustainable way”, minister Hoti said.

During this Summit, minister Hoti also met with the counterparts from the region, where he talked about the possibility of cross regional cooperation, especially in fighting informality in the economy. /ibna/