The Central Bank of Kosovo (CBK) has announced significant economic growth and a record increase in lending for 2024. CBK Governor Ahmet Ismaili stated that 2024 is expected to close with an economic growth rate of 4.3%, while similar growth rates of 4.2%-4.4% are projected for 2025 and 2026.
Economic Activity Growth and Inflation Stabilization
According to Ismaili, economic activity increased by 4.6% by September 2024, while inflation is projected to end the year at a low rate of 1.6%.
“The stabilization of inflation aligns with global trends and represents a positive step for our economy,” said Ismaili.
Growth in Lending and Deposits
As of November 2024, the total amount of loans reached €5.668 billion, marking an increase of €768.9 million or 15.7% compared to December 2023. The governor highlighted that loans constitute the majority of financial assets and play a key role in driving economic growth.
On the other hand, deposits reached €6.586 billion, reflecting an increase of €448.5 million or 7.3%. This growth is attributed to higher interest rates on deposits and increased competition among banks.
Combatting Counterfeit Money
Ismaili also emphasized efforts to combat counterfeit money. During 2024, approximately 4 million coins were withdrawn from circulation, of which 81,000 pieces were suspected of being counterfeit.
