Odat against total closure: Job loss and business closure are at risk

Kosovo Economic Ode Chairman (OEK) Berat Rukiqi has said that if total closure measures are implemented, the country's budgetary financial stability is threatened.

The event's <x0) completion is very dangerous because so far we've had a risk for jobs, as well as for closing businesses as we now enter that phase of risking the country's financial stability both budget and financial aspects, and that makes any collapses” inevitable, Rukiqi said.

While, chairman of the Oda American Economy of Kosovo (OEK) Arrian Zeka, stressed that Pristina's quarantine would turn the country into a situation of declining economic activity, adding that he risks a large part of the companies towards bankruptcy.

The eventary closure would turn us into a situation of declining economic activity or reducing overall activity that risks a large part of companies to eventual bankruptcy and, of course, reducing economic activity will lead to the country's declining overall and budgetary revenues by reducing the state's further ability to deal with the pandemic in terms of healthcare, but also in terms of support of business”, Zeka has declared.

Zeka said the diaspora could have an important role in the phase of economic recovery. According to him, if restrictive measures apply, we can see the collapse in the coming days.

“Data has continued to carry remittances to its function, and remittances have continued to be on the level and have scored. They have used formal institutions or mechanisms of sending money from countries where they live to their families in Kosovo”, he has said of Economy.

“The diaspora may have a role in the phase of economic recovery. If we apply new restrictive measures for even two weeks, a large portion of the companies that have been doing their best to keep their jobs”.

“They will come to that position when they decide to shut down their activities and jobs and collapse we can see in the next few days if restrictive measures are applied”, he said.

According to Rukiqi, the diaspora has had an important role in the sense of financial support, being an important host of the country's economic development.

The diaspora has played an important role in any process of the country not only in the sense of moral support but also very important in the sense of financial support but also directly helping the well-being of its families here by being an important host of the country's economic development. Over 1 billion euros so far is the driving difference if compared to the same period last year. If there are certain actions, new ones can avoid this”, he stated.

For ten months, according to Kosovo Central Bank data (BQK), remittances were well over half a billion euros.

Compared to the same period in 2019, 91m euros more were sent, or about 13 percent more. Remittances for the January-October 2019 period were worth 705.6m euros.