Europe > Kosovo, Republic of

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Carolina Bloch
,
Mariano Moszoro
,
Mona Wang
,
Frank van Brunschot
, and
Yasemin Hurcan
Kosovo has embarked on a journey of digital transformation, developing digital infrastructure to provide access to households, companies, and educational institutions and modernizing its public finance system through GovTech. Digitalization and GovTech can facilitate Kosovo leapfrogging into advanced infrastructure and public service delivery. While Kosovo has achieved significant milestones—including nearly universal internet coverage and the comprehensive front-end e-Kosova portal—unconnected systems, relatively high consumer prices for digital inclusion, limited digital skills, and cybersecurity risks hinder the full realization of digital benefits.
Ezgi O. Ozturk
This paper analyzes the transmission of ECB policy rate changes to bank interest rates in Kosovo during the 2022-23 tightening cycle. While both lending and deposit rates increased, the passthrough was more limited compared to the euro area and regional peers. Three key factors explain this limited transmission: Kosovo's stage of financial development, high banking sector liquidity, and significant bank concentration.
Boele Bonthuis
and
Selim Thaci
This paper examines the evolution and challenges of Kosovo's pension system. Since its inception, a basic pension and mandatory individual accounts have formed the key element of Kosovo’s pension system. Over the years, the pension system has expanded to include a variety of merit pensions, occupational pensions, and a legacy pension. While spending on the basic pension remains relatively low compared to international standards, there should be a more restrictive approach to special pension benefits. To enhance the clarity and effectiveness of pension indexation, it is essential to clearly define the index used for adjustments of the basic pension.
International Monetary Fund. Fiscal Affairs Dept.
Misioni i Departamentit të Çështjeve Fiskale të FMN-së shqyrtoi progresin e Administratës Tatimore të Kosovës, duke nënvizuar arritjet në rritjen e mbledhjes së të hyrave dhe në menaxhimin e rreziqeve të përmbushjes. Rekomandimet për përmirësime të mëtejshme përfshijnë fokusimin në transformimin digjital, përmirësimin e kapaciteteve të burimeve njerëzore dhe shfrytëzimin e të dhënave të palëve të treta.
Stephen Ayerst
This paper highlights recent trends in the Kosovo labor market and emigration. Like other Western Balkan countries, Kosovo experienced a sharp decline in population over the previous decade, as emigration increased. Using a structural model of the labor market and migration, the paper examines the potential impact of further EU integration. While lower migration costs hurt the economy, productivity convergence brought on by EU integration has an offsetting impact by increasing wages, lowering unemployment, and increase immigration. Policy simulations show that policymakers have a diverse set of tools—including structural reforms, active labor market policies, business support, and labor participation support—to boost potential and support the labor market.
Javier Kapsoli
and
Ezgi O. Ozturk
This paper analyzes reserve adequacy measurement in Kosovo, where euro serves as the legal tender. The study adapts the IMF's Assessing Reserve Adequacy framework to Kosovo's unique monetary context, focusing on precautionary motives for holding reserves. The analysis reveals limited readily available reserves at the Central Bank of Kosovo and recommends additional government deposits of 1.75-5.75 percent of GDP. Given the significant opportunity costs of maintaining such deposits, the paper suggests alternative solutions, including exploring a private lender of last resort model and maintaining ECB repo lines.