- Robert Corker, Dawn Rehm, and Kristina Kostial
- Published Date:
- February 2001
©2001 International Monetary Fund
Production: IMF Graphics Section
Cover design and figures: Sanaa Elaroussi
Typesetting: Julio R. Prego
Kosovo: macroeconomic issues and fiscal sustainability/Robert Corker, Dawn Rehm, Kristina Kostial—Washington, D.C.: International Monetary Fund, 2001.
1. Kosovo (Serbia)—Economic conditions. 2. Kosovo (Serbia)— Economic conditions—Statistics. 3. Fiscal policy—Yugoslavia—Kosovo (Serbia). 4. Taxation—Yugoslavia—Kosovo (Serbia). 5. Budget— Yugoslavia—Kosovo (Serbia). 6. Gross domestic product—Yugoslavia -Kosovo (Serbia). 7. Macroeconomics. I. Rehm, Dawn Elizabeth, 1953–II. Kostial, Kristina. III. International Monetary Fund.
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The following symbols have been used throughout this paper:
… to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
– between years or months (for example, 1998–99 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (for example, 1998/99) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.
Kosovo is a province of Serbia in the Federal Republic of Yugoslavia that is under temporary UN administration (UN Security Council Resolution 1244). Since the end of the conflict in June 1999, IMF staff have been providing technical assistance to Kosovo to help the province rebuild its economy. The assistance has been channeled toward setting up taxation and budgetary institutions (led by the IMF’s Fiscal Affairs Department), a payments and banking system (the IMF’s Monetary and Exchange Affairs Department), and, more recently, a statistical framework (the IMF’s Statistics Department). The staff have also provided general macroeconomic policy advice, especially in the realm of budget formulation, which is the main focus of this publication. All the staff’s work has been carefully coordinated with the World Bank and donor agencies.
The authors would like to thank for their detailed and insightful comments Michael C. Deppler, Emil M. Sunley, Steve A. Symansky, Alma Kanani, Åke Lönnberg, Rachel N. van Elkan, and other colleagues in the IMF and the World Bank. The authors are also grateful for the editing by James McEuen of the External Relations Department; research assistance by Beata Kudela; and the processing of the text, tables, and other material by Evelyn E. Stephens.
The views expressed are the sole responsibility of the authors and do not necessarily reflect those of the IMF staff, Executive Directors, the UN Mission in Kosovo, or the authorities of IMF member countries.
Acronyms and AbbreviationsBPK
Banking and Payments Authority of KosovoCAM-K
EU Customs Assistance Mission in KosovoCFA
Central Fiscal Authority of KosovoEBRD
European Bank for Reconstruction and DevelopmentEU
Food and Agriculture Organization of the UNFRY
Federal Republic of YugoslaviaGDP
Gross domestic projectJIAS
Joint Interim Adminstrative StructureKCB
Kosovo Consolidated BudgetKEK
Kosovo Electricity CompanyNATO
North Atlantic Treaty OrganizationSCI244
UN Security Council Resolution 1244UN
UN Mission in KosovoVAT