Hot is impressed by citizens: Name 6 billion euros for the private sector

Prime Minister Hoti has guaranteed full transparency of the distribution of recovery funds. He has even declared that they would prepare a five-year strategy that would include 6 billion euros for the country's private sector, Periscope follows.

The “means a five-year development strategy that enables us to mobilise as we have mobilised these funds from the budget and from the loans we have received so far amounted to 365m euros, by the end of 2021 to manage to round that short-term recovery package that amounts to 1.2 billion, but to focus on a plan of at least 5 years old that amounts to 6 billion euros in assistance for the economy” has said Mr. Hoti.

Hoti has said he expects support at the Donors' Conference for the Western Balkans.

Full status: 

We guarantee full transparency of the distribution of recovery funds.

Today we held the first meeting of the National Council for Economics and Investments, where we have discussed steps to harmonise the actions of state institutions with the private sector and with other development partners involved and helping promote Kosovo's investment and economic development.

Below the full talk.

Full word of Prime Minister Hoti:

Honored Deputy Prime Minister, Ministers, Deputy Ministers, Directors of Economic Odes,
Dear Governor, representatives of associations from the Association of Commons,
All of you present,

Welcome to the first meeting of the National Economic and Investment Council!
This is the first meeting in which we will discuss some matters based on the agenda you have received. I would like to thank you all for present today, at this very important forum, which is the continuation of regular consultations the Government has had with the private sector and with all partners involved in economic development and investment at the level of the country.
As you've seen we've renamed and re-organized this Council a little bit, in order to focus on the important topics for economic development, but, in particular, to focus on these important processes that we're already going through as a result of the pandemic.

I want to thank the EBRD and the EURZH Central Office for the support it is giving us in this Council through assistance and support in organising the Secretariat of this Council, which is doing a very good job in collecting information and keeping us in line for communication and informed at all times by gathering proposals from economic terms, from associations, from different institutions so that we can all be fully informed of priorities, developments in the challenges, and in particular for the challenges to meet together.

Through this Council I believe that we will continue the good work that has been done in the past, in order to harmonise the actions of state institutions with the private sector and other development partners that are involved and help promote Kosovo's investment and economic development. This is very important when we are now facing the social and economic consequences of pandemic.

As you know, as part of the Government Program, we've also seen a package of economic recovery measures. I'm happy to say, of course within our capacities as an economy and as a Government, that with budget revision we've formed the 365m-euro Economic Recovery Fund and in the government's decision of the first week we've distributed this fund through various measures, as you've seen.

Now, in the short term that means immediately in the coming weeks and months, we need to work with you to implement this package of economic recovery through various measures.
As you have seen in the Government's decision, on the annexes the table where all decisions are described are divided also the role of all public institutions but also the role of developmental partners and economic Comedies.

What I want to assure you is that you will be fully involved in implementing the economic recovery package. What does that mean? This implies that in each of the relevant measures, the ministers are making the necessary preparations that imply providing instructions, documents or criteria on which they distribute funds for subsidisation of salaries or for coverage of the interest rate, or for various subsidies, different assistance in different sectors.

You will also be involved in preparing the criteria for distributing these funds, even in the evaluation commissions for distributing those funds, because we want to make sure that it's public money to be distributed in full transparency, but above all to go to companies, companies, employees with the maximum effect, and no one better than you know the needs of the economy and business needs.

This is the first, second one, we've also planned in September to start drafting the new development strategy for Kosovo, but now we're motivated and driven by the needs we have to provide a long-term economic recovery plan, because it's pretty clear that we're going to face problems of the new economic recovery not only within this year, but I'm completely safe over the next year and maybe beyond, because the length of this pandemic is not that it has created some short term difficulties of business liquidity, but it's clearly caused a shake-up of the economy and the economy's long term we need to have a little bit of access to.

What does that mean to us? It means a five-year development strategy that enables us to mobilise as we have mobilised these funds from the budget and from the loans we've received so far, 365m euros, by the end of the 2021, to manage to round up that short-term recovery package that goes to 1.2 billion, but to focus on a plan of at least five years old that goes up to 6 billion euros in assistance to the economy, including direct assistance from the budget and through state loans, and through the credit guarantees the government has to issue private investments and the mobilisation of the first means here in order of the European Commission, which we're all right to do.

I expect that in the first week of October we will have the Donors' Conference for the Western Balkans, where we finally place major infrastructure projects, including Kosovo, some of the projects that better connect these countries, infrastructure projects primarily but create multi-progressive effects on the economy, which go to Kosovo, I believe up to 700m euros in the period of five years. It is the MCC funds for which we are also finalising in consultation with the three ministries of the line projects that will be financed by the MCC in the years to come and also by other donors. I am confident that during the months of September-October, we will manage to round up this five-year strategy issue to mobilise about 6 billion euros in support of the private sector.

Thank you for your attention.