LDK says it has votes, opposition doesn't change stance on Remake Law

The executive has failed to secure the 61 votes it needs six times when the Economic Recovery Bill is put to the polls.

Today, for the seventh time, this day's agenda will be dropped once again for a vote. The Democratic League of Kosovo has announced that today they have the votes it needs to pass this point.

“In the name of 61 signatory deputies, I have requested an extraordinary session for Monday at 10:00 a.m., to vote on the first reading the draft law on economic recovery”, written days ago the head of the LDK's parliamentary group, Arben Gashi, until he published the session request.

The Economic Recovery Bill would enable citizens to contribute 10 per cent of the means from their account to the Kosovo Pension Savings Fund.

The vote on this bill has failed for the same time, since opposition parties are not supporting this idea.

Even though the session is scheduled for him today, by all means this case will be put back in the vote, the opposition parties, The PDK and LVV have been firm to vote against.

So far, the value of tools at the Kosovo Pension Savings Fund has reached over 2 billion euros with about 690 thousand contributions.

This suggests that the total value that would be able to withdraw from the Fund is about 200m euros -- tools, which, according to Kosovo Government officials, are considered to be stimulating the aggregate demand on the market.

The economic recovery bill, which was adopted in the Government of Kosovo on July 22nd, totals 385m euros. This bill aims to help businesses through fiscal and monetary policies, following losses caused by the coronary pandemic.

Most businesses in Kosovo, nearly all sectors, have reported high financial losses and reduced production capacities from measures taken by the government on March 13th to prevent pandemics.

Business representatives have consistently called on Kosovo authorities to help the economic recovery as soon as possible, as any delay, according to them, would bring bigger problems for their businesses and risk of bankruptcy.

So far there is no exact value of losses that may have been caused by Kosovo's economy in general.

Economic losses that have been recorded so far concern tax and customs revenues.

According to data from the two institutions, the Kosovo Tax Administration and Customs are over 232m euros less budgetary revenues this year, as a result of the pandemic caused by the Coronavirus.

Kosovo has so far implemented the fiscal emergency package, worth about 180m euros. This package, which was meant to ease economic and social problems, was adopted in March, following confirmation of the first cases with corruption, by the government led by former Prime Minister Albin Kurti.

However, some of its measures are being implemented following the arrival of the government led by Prime Minister Avdullah Hoti.