Zeka: Government Must Create Urgent Fund for Private Sector

Kosovo's government must create an urgent fund to help private businesses, following the closure of most of them as preventive measures in the fight against corruption.

This proposal for Government comes from economic Comets in the country.

The chairman of the American Chamber of Economics of Kosovo, Arian Zeka, in an interview for Economics, has said that following the government's decision to close several companies, as a result of preventative measures to spread Coronavirus, the most hit could be private sector businesses.

We've proposed an emergency fund in the initial phase. We are approaching the end of March, part of the economic operations that have been interrupted and will not be able to postpone their operational obligations and their employees. We proposed to the government an emergency fund after this situation was created. The solution in the private sector is to get support from the government, because it's the sector that contributes mostly to revenues in the country's budget. Of course, it is only fair to have direct support from the state” Zeka added.

He has said that after the outbreak of the Coronavirus pandemic, the American Economic Oda, with some business associations have proposed a document with concrete measures to minimize the negative impact that the pandemic will have on the private sector. Zeka said they have proposed that 5% gross product be planned for the 2020 budget, in support of the private sector.

He has said that many companies can thus be saved.

We already have information that is considering part of the proposals we've submitted. The document was sent to Prime Minister Albin Kurti last week. During our discussion with the ministers, we have been informed that they have already begun to analyse our proposals. We've proposed that 5 % of the gross product be placed in the financial sector. We're talking about hundreds of millions that, if reoriented by capital expenditures planned for the 2020 budget in support of the private sector, can help us keep the consequences minimal, and in this way we manage to save as many companies as possible. Kosovo has a limited budget and should preserve liquidity in the economy”, Zeka added further.

The American Economic Oda in collaboration with several other business associations has already proposed a document with concrete measures.

These measures, we believe, should also be taken in this emergency phase in which we are going after the outbreak of the Coronavirus pandemic, but also later as recovery measures to minimize the negative impact that the pandemic will have on the private sector and on the economy in general. When we're talking about the hardest companies, of course, even helping employees of those companies that will be affected as a result of preventative measures to spread Coronavirus. Much of the economic activities have already been reduced. There are several companies whose work has been terminated as a whole, as a result of the government's decision, which has been made in order to limit the spread of pandemic. On one side of security conservation has been beneficial actions, but will have impact on the country's economy and global overall” said Zeka.