Remittances until the end of 2023 are expected to reach 1.3 billion euros

The Central Bank of Kosovo (CBK) predicts that the economic growth for 2023 will reach 3.4 percent, until next year it will be 4.2 percent. The CBK said that the value of fake coins in the Kosovo market is not known exactly, since according to them, they circulate illegally.

The Governor of the Central Bank of Kosovo (CBK), Ahmet Ismaili, in a media conference, spoke about the challenges they faced during the year that we are leaving behind, saying that despite this, they have managed to finish this year successfully.

He emphasized that the remittances received until the end of 2023 are expected to reach the value of 1.3 billion euros, for which he added that the CBK foresees that in 2024 remittances will increase by 6 percent.

The Governor of CBK, Ahmet Ismaili emphasized that loans until November 2023 have reached the amount of nearly 5 billion euros, marking an increase of about 600 million euros, compared to last year.

He said that loans to the enterprise sector, which make up about 60 percent of loans in the banking sector, are recorded in the amount of nearly three billion euros, while the household economy sector makes up 37 percent of loans in the banking sector, while the average rate of interest on the loan is 6.39 percent.

In addition to these, Ismaili also spoke about deposits, which he said continue to be the main source of loan financing. He added that the deposits until November 2023 are recorded in the amount of about 5.9 billion euros.

Regarding what the CBK has done to improve the situation with the circulation of fake coins, he said that they have supplied the economy with new coins, initiated the establishment of the National Center for the fight against counterfeit money and other actions.

Meanwhile, when asked if it is known the value of the fake currency that is circulating in the Kosovo market, Ismaili said that it is impossible to know such a figure, since according to him they are circulating illegally.

The CBK’s strategic plan for 2024-2028 is to strengthen sustainability and financial stability, raise capacities, digitize and modernize processes, advance consumer protection and others.

Within the framework of the conference, the traditional award of CBK, “Young Economist”, was also awarded, which was won by Qendrese Cuci, Dielleza Mahmuti and Agnesa Demolli Mehmeti.