Terrifying: Over a thousand Kosovo businesses went bankrupt in 2018

From January until December 2018, 1,000 and 619 businesses in Kosovo are bankrupt. Last year, the number of businesses that have disappeared is 1142. This shows that the number of businesses that went bankrupt this year is higher than last year.

In a response to the Ministry of Trade and Industry through an answer to Indexline, there have been a loss of 1,000 and 619 businesses this year. In turn, 9 thousand and 777 new businesses have opened.

The extinct businesses belong to the processing industry, agriculture, other forestry and sectors.

What is of concern is the small number of new businesses in production and agriculture. According to a Financial Stability report released by the Kosovo Central Bank for 2017, the number of new registered companies has a annual decline of 11.5%, which finds only 9,223 new businesses registered. The sectors that have seen the most decline in the number of registered businesses are production and retail and retail trade, followed by agriculture, broadcast Indexline.

For economist Naim Gashi, the fact that the number of businesses in the production and agriculture sector has declined, because these sectors directly influence local productivity and reduced dependence on import.

“Decreasing the number of businesses in the production and agriculture sector is disturbing, for the fact that they directly affect local productivity and reduce dependence on imports. The production and agriculture sector is also the host of the creation of new jobs that our economy desperately needs” has completed.

Economist Mustaf Kadriaj for Indexline has indicated that in the absence of the Government's support for legal and technical infrastructure, many local businesses have been closed this year, especially those producers who have been promoting economic development.

Unfortunately not doing business in Kosovo has been a big day priority and priority for Government, and as a result, business is being overwhelmed every day by lack of government support in legal and technical infrastructure was an unaffordable competition from imports, resulting in the closure of many local businesses where the most heavy, productive businesses as a promotion of economic development because production shows the economic power of a state because it affects the local gross product, increased employment and the welfare of citizens, where the result of purchasing, which results in filling the cash in the state, because it affects every budget to pay for it to the state, Cocharaj has said.

Kadriaj says 2019 will be a year of supporting local businesses.

“I think that the year 2019 will be the year of supporting local businesses because as a result of a strong economy even in relation to the European Union agenda and talks with Serbia will be better because Kosovo will testify that it can keep itself at a more favourable economic level”, economist Kadriaj has said among other things.

He has added that this year the government agenda has been oriented into consolidating the state, such as the demarcation vote, voting on KSF laws, talks with Serbia, and other political problems have overshadowed the issue of doing business.