8 hours agoKosovo Telecom with 31m euros in losses (Dok)
Periskopi(8 years ago)
(8 years ago)In an internal report on public enterprises, the Government of Kosovo has been alarmed by a serious financial situation in Kosovo Telecom. The company concluded 2016 with 31m euros in losses and suffered a sharp decline in consumers. Experts say that unless urgent measures are taken Telekom expects Kosovo Telekom (TK) default, [...]
The company concluded 2016 with 31m euros in losses and suffered a sharp decline in consumers. Experts say failure to take emergency Telekom expects bankruptcy
Kosovo Telekom (TK), once the most profitable public enterprise in the country, is heading towards bankruptcy.
According to an internal report by the shareholder, the Government of Kosovo, Kosovo Telecom has closed 2016 with a loss of 31m euros, while there has also been a sharp decline in the number of consumers.
Kosovo's “Teleclomen in 2016 has completed with negative financial results with about 31.311.000 euros”, says the report “Public Enterprises performance for 2016”, drawn up by the Public Enterprise Policy and Monitoring Unit, under the Ministry of Economic Development (MZHE).
This report, which is expected to go to question Kosovo Assembly deputies, generally describes the serious financial situation in Kosovo Telecom, but also in most public enterprises in the country, writes “Sound“.
The Government report explains that the large increase in spending in relation to revenues has put Kosovo Telekom in a serious financial state. So of 76m euros in revenue in 2016, expenses amounted to 107.3m euros.
As a result, the company contracted wealth and huge increases in obligations.
