Still not starting to implement all measures of Emergency Pack

Apart from the 3rd measure for workers' salaries, businesses that have had financial difficulties at this time of pandemic have not yet benefited from this package.

While the World Bank has seen an economic decline in the country at around 5 per cent and a significant economic contraction caused by Ovid-19, the Ministry of Finance and Transfers has not yet designed at least one draft-pack for economic recovery.

Acting Deputy Minister of Finance and Transfers Agim Krasniqi says in an interview for Kosovapress for Pacon II, which has to do with economic recovery, a co-operation between the Government and the Assembly is required to change the implementation of relevant laws, budget revision and ratification of international agreements.

Krasniqi has also talked about the flow of Emergency Pack, which, according to him, so far over 100,000 workers have received the 170-euro salary, while preparations are being made for all other measures primarily involving workers and entrepreneurship.

He suggested that the 3b) measure for subsidies to up to 50 per cent for small and medium-sized enterprises, and the 15th amount of monthly assistance payment worth 130 euros for citizens under serious social conditions, is expected to start preparations for implementation quickly.

I believe about 100 thousand people will be paid by now, but there remain another number that appeared to be verified lists and I believe within the week the 3a measure will be closed. Along with it, other measures are being verified, the application that has taken place for the rent measure 3b, for measure 7, for those who have lost jobs, as well as measures 14 and 15 that have not yet begun, but I believe we have prepared to start implementing other measures as well as to say a whole month with all measures involved, excluding some measures that some preparations are needed for public enterprises, liquidity for the Ministry of Agriculture and the Ministry of Culture”, Krasniqi says.

As for Pako for economic recovery, Krasniqi stresses that even though the Commission, led by the incumbent Minister of Finance and Transfers and consisting of the line ministers, still has nothing concrete on the issue.

He says he is discussing that somewhere between 50 per cent and 80 per cent of the Fund would be part of the loan guarantee.

Something concrete by the Commission doesn't, it's just ideas within the Ministry and those from business associations. The package would be focused on three main elements. The first element is in package a small portion will be granting, mainly for businesses that have initial problems with continuing their activity, but the main focus has been on guaranteeing loans and subsidising interest rates. If we talk about numbers we've heard of 200-300 million given by representatives of associations to information you've heard from the Government, up to 1 billion that will be the package for economic recovery. But let's get this straight, this would be a total financial infusion that would be for the private and public sector. In order to allocate some of the government's funds mainly from the loan, it is being discussed that somewhere 50 per cent to 80 per cent the Fund would be part of the loan guarantee. How can this be done? This can be done through the loan guarantee fund, by increasing the capital that is within the Fund or even by taking part of the loan guarantee compared to the” fund, he says.

Krasniqi has said that the sooner this package is completed for economic recovery, losses are smaller in the economy, but for this there must be political unity and co-operation between the Government and the Assembly.

The “also for the emergency package, but nevertheless for the package of economic recovery, a co-ordination and co-operation between the Government and the Assembly of Kosovo is needed because the change of laws, ratification of international agreements, otherwise may be delayed and any delay is the smallest fund, the economic multiplayer decreases, damages increase. The sooner we close this emergency package, but even this package for economic recovery, losses are smaller and the possibilities for reducing the economic recession are greater if we quickly intervene”, Krasniqi declares.

Otherwise, the deadline to take advantage of the 15-point Fiscal Emergency Package has closed 15 May.

In the meantime, there is still no official data on the damage caused by the pandemic to Kosovo's economy, but it is taught that the consequences in this sector reach over half a billion euros so far.