Still no figure on the economic damage being causing to Kosovo

Although many businesses have closed down because of Coronavirus, there are still no figures on the damage caused to Kosovo.

The chairman of the American Economic Ode of Kosovo (OEAK), Arian Zeka, in an interview for Online Economics, said the country's economic downturn has been observed.

But according to him, there are still no figures of what these losses are, because all of this depends on how long the measures undertaken by the Government will take due to the spread of Coronavirus.

We will not be able to reach the economic level planned for 2020. We are, however, integrated into the global economy”, Zeka said.

He has said the impact on the European Union trade is expected to be on 15 billion US dollars.

And we will be affected in this regard. As long as the economic level remains to be seen how long these measures will last, if the spread of pandemic” is put under control, Zeka stressed.

According to Zeka, it is necessary to preserve liquidity, within the private sector and the economy, because it has enough capacities but they are limited.

“It is necessary to preserve liquidity within the sector. In our economy the sources of funding have always been limited, so even private sector interest loans to carry out their obligations would be a very good solution that Government should not fear in this regard. On the one hand, we have capacities, even though limited,”.

Zeka said that a large part of the people are continuing to work from home, while some of them have not been able to get to their jobs, which is due to the pandemic that has spread throughout Kosovo and the globe.

According to him, a series of laws have remained without delay due to the delay in the institution's constitutionalisation.

The companies will not be able to fulfill their obligations. A series of laws have remained which, due to the delay in constitutioning new institutions, have remained without delay. With the creation of the new government, we expected these reform processes to move forward unfortunately is something we are waiting for to change especially in this crisis the country is entering”, Zeka added further.