IMF: Kosovo cannot finance itself

The economy in Kosovo is not conducive to sustainable development, the International Monetary Fund (IMF) said yesterday.

Izvor: Tanjug

Tuesday, 23.10.2007.

14:23

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The economy in Kosovo is not conducive to sustainable development, the International Monetary Fund (IMF) said yesterday. Moreover, the province cannot finance itself due to low industrial output and a shortage of direct foreign investment, the international financial organization says. IMF: Kosovo cannot finance itself Kosovo’s economy is characterized by an unclear revenue structure, an enormous foreign trade deficit and virtually non-existent industry. Imports account for over 80 percent of the province's consumption, while its main tax revenue comes from customs and excise collected at administrative points, the IMF said. According to the organization, Kosovo is also unable to secure servicing for its foreign debt of USD 1.2bn.

IMF: Kosovo cannot finance itself

Kosovo’s economy is characterized by an unclear revenue structure, an enormous foreign trade deficit and virtually non-existent industry.

Imports account for over 80 percent of the province's consumption, while its main tax revenue comes from customs and excise collected at administrative points, the IMF said.

According to the organization, Kosovo is also unable to secure servicing for its foreign debt of USD 1.2bn.

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