Sahin warns job losses, remittances, protests

Pandemia has caused most businesses to cease their activity. This could lead to the closure of many businesses and job extinction and protests from those who lose their jobs. Foreign investments and remittances will also suffer decline.

The chairman of the Kosovo Alliance of Business (AKB), in an interview for Online Economics, has said that 30 percent of active businesses risk closing, and about 20 percent of people will lose their jobs.

All businesses across and around the country have big complaints and have major losses, risk closing in on our country if the government does not exit with an emergency package for support, more than 30% of active businesses. And if we are going to close more than 30% of active businesses and if we don't support these businesses from the country's institutions, Kosovo risks losing more than 20% of the active employment it has had”, Sahin said.

Sahin has warned that disappointment and protest from people who lose their jobs may arise.

“These workers who will be out of work, these companies that will fail, are real potential to create discontent and social protests”, he said.

Sahin further says foreign investment will also suffer decline. He warns that remittances will also drop by 50 percent.

In this year's “according to GDP projections is that we will have 50% less and less diaspora remittances, for which they have brought hundreds of millions of euros into our pockets, we will also have 50% less foreign investment”, he added.

As exits from this situation, he says a national strategy and funds are needed from various donors, but also an increase in public debt to maintain active consumption.

And for this, a strategic plan for the recovery of the economy is needed by producing Kosovo's parliament laws and by asking for donors and financial institutions, support and grants, but must be put in public debt to maintain active consumption, the economy cannot be restored without active consumption”, Sahin for EO has indicated.

He also said that in this situation Kosovo could be the biggest beneficiary of funds in the Balkans.

“In this situation Kosovo can be the biggest beneficiary in the Balkans of global funds and grants that can benefit but with a stable government, with a stable parliament and a strategy for economic recovery and exit from this” crisis, it has indicated.