Writes: Dr. Alban BIRD
Kosovo's economy is facing a crisis. Although statistics often present a modest increase in Gross Domestic Product (GDP) or a decrease in unemployment, the reality on the ground is far from these figures. Small and medium-sized businesses – the backbone of our economy – are facing a heavy fiscal burden and a lack of institutional support, while citizens struggle every day to meet rising living costs.
Why does Kosovo's economy need revival? Because we are losing what makes us special: dynamic youth and entrepreneurial spirit. We have one of the youngest populations in Europe, but youth unemployment continues to be alarming. Mass migration, especially of professionals and skilled workers, is emptying Kosovo of its most precious potential. Instead of investing in the future, we are seeing an economy gripped by stagnation and a lack of long-term vision.
Current challenges of the Kosovar economy
One of the main economic problems is the lack of economic diversification. Kosovo still relies mainly on remittances and consumption, while industrial production and exports remain at low levels. The recently proposed progressive tax system (property tax) risks further stifling private initiative, directly affecting small businesses and farmers, who already face major challenges due to high costs and foreign competition. .
Another challenge is insufficient infrastructure, either physical or digital. Kosovo still does not have a modern transport network that would facilitate access to markets or a digital infrastructure that would support the development of the knowledge economy. Furthermore, energy remains a key challenge – frequent outages and high electricity costs discourage foreign investment and hinder economic growth.
Necessary solutions
Kosovo needs a new and bold approach to revitalize the economy. Priorities should include:
1. Investment in education and skills – Kosovo's youth must be equipped with 21st century skills, including technology, entrepreneurship and innovation. Universities and vocational training centers should be more closely linked to the labor market.
2. Easing the fiscal burden – Small businesses should be supported through tax reductions and the provision of grants for innovation and development.
3. Development of the agricultural and energy sector – Agriculture must be modernized and supported to meet the needs of the local market and for export. Investments in renewable energy sources will increase economic sustainability and create new jobs.
4. Promotion of foreign direct investment (FDI) – A business-friendly environment and legal reforms to guarantee stability are key to attracting international investors.
The future is in our hands
Kosovo cannot afford an economy that survives only on remittances and internal trade. Sustainable economic growth requires a clear vision and bold action. Institutions must put aside political interests and focus on an economic agenda that prioritizes employment, production and the well-being of citizens.
We have the potential to be a success story in the Balkans, but this requires real commitment and reform. Kosovo needs a reborn economy - and for that, change is required. The time for action is now!
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