11 October 2021 | STUDY

RCC ESAP 2: Performance of Western Balkan Economies Regarding the European Pillar of Social Rights: 2021 review on Kosovo*

Like other economies, Kosovo* has been hit hard by the COVID-19 pandemic. Despite policy support, the economic activity is estimated to have fallen 6 percent in 2020 (IMF, 2021). The fiscal deficit increased to 7.7 percent of GDP, given the large fall in tax revenues and the implementation of
mitigation and recovery measures of 4.2 percent of GDP (IMF 2021). Growth is expected to rebound in 2021 and real activity will most likely reach pre-pandemic levels only in 2022 (IMF, 2021; World Bank, 2021).

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