Page 34 - SE Outlook Regions 2024

In the foreseeable future, growth is anticipated to hover around 4%, closely aligning with Kosovo's potential. However, there are elevated risks attributed to Russia's invasion of Ukraine and the potential for a slowdown in economic growth across Europe. On the production front, services and agriculture were the key contributors to H1 2023 GDP growth.
The World Bank said that the contribution of investment to growth is expected to pick up in 2024-2025, supported by the implementation of the Energy Strategy.
In October 2023, the International Monetary Fund (IMF) anticipated GDP growth of 4% for Kosovo in 2024.
2.5.2 Industrial production
Real GDP growth at constant factor prices in industry is seen at 3.5% in 2024, following estimated growth of 2% in 2023, according to the World Bank.
In August 2023, the turnover index in various industry sectors exhibited the following changes compared to the same month in the previous year: the processing industry increased by 6.6%, while electricity, gas, steam, and air supply, along with air conditioning, experienced a decline of 36%.
Similarly, water supply, waste management, and treatment activities, as well as the extractive industry, witnessed a decrease in turnover by 36% and 22% respectively.
34 SE Outlook 2024 www.intellinews.com