Thursday, August 04, 2005

IMF Predicts Slight Growth in Kosovo

PRISTINA, Serbia-Montenegro (AP) -- The International Monetary Fund predicted that Kosovo's economy will grow in 2006 but warned of a high budget deficit this year, an official said Thursday.

Marc Auboin, the IMF representative in Kosovo, recommended that Kosovo's government freeze the hiring of civil servants to keep the deficit in check.

The IMF forecasted a euro140 million (US$172 million) budget deficit for 2005 if the government does not halt hirings and adjust spending, Auboin said.

He also said authorities should adjust spending and taxes in 2006 to meet planned targets. Kosovo has been administered by the United Nations since 1999.

No comments: