Hasaj: Kosovo needs 60 years to reach the EU's standard of living

Executive Director of the GAP Institute Blendi Hasaj said that estimates indicate Kosovo will need 60 years to reach the standard of living in the European Union, noting that the economic situation in Kosovo does not differ much from previous years.

According to data from the GAP Institute, annual economic growth of around four percent has accompanied Kosovo over the past ten years, except for the year after the pandemic, when growth was higher. According to Hasaj, this growth does not differ significantly from that in the region, but there is a difference in gross domestic product.

“For Kosovo, as well as for the countries of the region, one of our ambitions is to reach the standard of living in the European Union, because that is our goal. But where do we stand in terms of economic growth compared with the European Union? Our goal is to bring our economic growth closer to that of the EU, that is, to reach the EU's standard of living, and here it is clear that we are lagging behind. We do not have sufficient economic growth to enable a rapid improvement in our standard of living,” Hasaj said.

He added that per capita income in Kosovo is around 30 percent of the EU average.

“There are estimates showing that we need another 60 years to reach the same standard of living as in the European Union,” Hasaj said.

The head of the GAP Institute said that Kosovo needs numerous economic reforms to achieve more significant results, but, according to him, one of the main problems remains political uncertainty in Kosovo.