Mehmeti: The remittances last year reached a close to 1 billion euros, future government to focus economic development

“The banking sector is well capitalised and liquid. This sector has also greatly helped the economy during the time of pandemic. Banks have extended loans of over 1.5 billion euros during the pandemic, we have fallen bank interest rates, and this has helped a lot. This sector has the capacity to play a key role for economic recovery after the pandemic”, he said today in an interview for the morning show “good morning Kosovo” on Radio Television in Kosovo (RTK).

Mehmeti said bad loans are also small in Kosovo. The non-aligned circumstances are at a very low level, even during the pandemic were 2.7 percent”, he said. According to him, a stable financial sector creates opportunities to deal with the pandemic.

Mehmeti suggested that the CEC has received positive assessments from international institutions, including the IMF, the European Commission, and so on. He has mentioned actions that he has taken during the pandemic period that the effects may be as small as possible, while isolating credit restructuring.

Kosovo Central Bank Governor (BQK) Fehmi Mehmeti also spoke of the diaspora. Kosovo's “diaspora visa presents a very important resource to the country's economy, only the non-resident expenditures we consider to be largely realised by our countrymen, we have a drop somewhere around 52.9 per cent compared to 2019, that is, the non-resident expenditures realised in Kosovo that have reached 589.7m euros. Meanwhile, the previous year has been 1.2 billion euros”, he said.

According to Mehmet the remittances last year amounted to close to 1 billion euros. He estimated that if things go well with inoculation, then economic growth at the end of the year will be 4%.

Kosovo Central Bank Governor (BQK) Fehmi Mehmeti said the future government should focus on economic development.