Kosovo government approves delayed 2020 budget

by Reuters
Tuesday, 10 March 2020 13:58 GMT

PRISTINA, March 10 (Reuters) - Kosovo's government approved the 2020 budget on Tuesday after the small Balkan country held a snap election in October and elected the government after months of negotiations.

The budget for this year will be 2.35 billion euros ($2.67 billion), 12.7 percent higher than last year.

"For this year we expect the economy to grow 4.2 percent," Finance Minister Besnik Bislimi said during a government session before the ministers voted on the budget.

Bislimi said the budget deficit was expected to be 2 percent of GDP and inflation will reach 1.3 percent.

The bill is not expected to face problems in parliament once it goes to the vote in the next few days because the government coalition has a large enough majority.

Corruption and political instability have kept most foreign investors away from Kosovo since its 2 million people declared independence from Serbia in 2008.

Kosovo, which is still not recognised by Belgrade, remains one of the poorest countries in Europe and is dogged by corruption and nepotism. ($1 = 0.8793 euros) (Reporting by Fatos Bytyci, editing by Ed Osmond)

Our Standards: The Thomson Reuters Trust Principles.