Bajrami warns 3% economic decline

The Board and Transfer Commission has gathered today to consider, in principle, the Bill on Change and Fulfilling of the Law on Business Divisions for the Budget of the Republic of Kosovo for 2020, the Journal Express reports.

Finance Minister Hykmete Bajrami has spoken on the commission, which has stated that citizens and businesses have been influenced by pandemic, and this has affected public finances.

We have started the revision process on the first day of this government's work, even though we have limited time I believe we've done better to draft a draft that is inclusive. We are facing an unusual challenge that has forced us to make aggressive decisions. Pandemia also in Kosovo has caused business and citizens to be affected. Most of the businesses have been closed, some workers have received no wages at all”, she said.

Bajrami adds that they have been forced to take extraordinary actions to deal with pandemics.

We expect an economic downturn of 3 %. Still, we expect growth

It happens in other years. In terms of prices, a marked stability is expected. We are living in a very challenging time that creates indiscriminately, especially when we are in such economic projections”, she has said.

“E know that the international fund and the world growing economic bank will be higher than our projections. The MF will immediately begin reviewing the medium-term cost framework. When we are in the revenues, based on the latest revision, projections show that in 2020, compared to last year we have a 5% drop, compared to the original budget the decline is huge 11.5%. There is a budget for this year's wages and wages”, said Minister Bajrami. /