This paper aims to address the impact of COVID-19 on economic indicators and FDI flows in the Western Balkan countries, possible scenarios of events and their reflections in Kosovo. This research paper comes in the wake of another paper by IETL, namely Foreign Direct Investment in Kosovo: Investment Climate, Potential and Barriers, published at the end of 2019, providing valuable information regarding the barriers to FDI flows as encountered by foreign investors in Kosovo even before COVID-19, the reforms that the Government needs to make for the overall economic growth and to attract FDIs. Additionally, this paper is supported by the desk research of secondary data (documents, local and international reports produced by the IMF, World Bank (WB), Central Bank of Kosovo (CBK), Kosovo Investment and Enterprise Support Agency (KIESA), scientific and professional magazine articles, statistical data).