Economic recovery can take until 2023

If in June the situation created by Coronavirus is estimated that Kosovo can restore the economic situation this year.

But if the pandemic continues, then the country cannot recover the economy by 2023. So suggested in an interview for Online Economy, economics expert Muhamet Mustafa.

There are two variants, if normalisation comes in June then the situation will be in the situation as it was before the virus and will be able to recover in the second quarter of 2020. If I keep going further, it'll find us 2022-2023 to get back to our previous state of”.

We're not sure what's going to happen. As if we have cases, businesses will again be sanctioned and the consequences will be serious”, Mustafa said.

Mustafa argued that there will be negative impacts in many areas where, according to him, there will be gross reductions of the product by 5 percent as well as employment.

Furthermore, he comments on government measures, which he said are difficult to implement by businesses because of the political situation and budget imbalance.

He says the problem of ratification of international agreements exists, in terms of financial aid and loans.

The World Bank's “assessments and the International Monetary Fund have confirmed that there may be GDP contraction or gross domestic product around 5%. There are negative influences in many areas”.

The government has taken some measures, but they are having difficulty implementing businesses as a whole, especially because of the political situation and the inability to become budget rebalancing and to make ratifications for international agreements concerning financial aid and loans. This is the elementary problem that must be solved in Kosovo”, he said.

Speaking of reopening businesses, the economy expert said the overall opening of businesses should take place.

Among other things, he also showed how it should be done to prevent the virus and to make economic development reopen, reports EO.

“has started reactivating must be fully reactivated except for food and accommodation. We consult health institutions to deal with various viruses without having a major drop in society”.

The rapid creation of tests and evidence of those infected, their isolation and the avoidance of total paralysis of society because if it continues this way there will be great consequences”, Mustafa said.