GDP: 9 billion euros of diaspora have been introduced into residences, capital dead for Kosovo economy

The Kosovo Alliance of Business has expressed deep concern about how diaspora investments are being managed in Kosovo. Over the past two decades, the diaspora has introduced over 9 billion euros in the purchase of around 180 thousand residences in Kosovo.

In a post in Facebook, the GDP said these are huge tools, but turned into dead capital.

These are huge tools, but converted into dead capital, that create no jobs, no economic development, no new revenue for the state. This high figure clearly shows that the Government of Kosovo has no real strategies for orientation of remittances and transport savings towards production and service sectors. In the absence of facilities, security and state policies, the diaspora opted to invest in real estate, losing the possibility of creating district capital that would give breath to the country's economy”, the report said.

The GDP considers that 9 billion euros in housing are huge assets placed in the wrong country.

The responsibility falls both on the government, which has failed to create conditions for sound investment, as well as on diaspora who are not exploiting its potential for long-term development. The GDP requires the government, drafting a clear strategy and real incentives for orientation of remittances into the active economy. From the diaspora, a greater reflection and commitment for investments in production businesses, services, technology and projects that generate employment and perspective for Kosovo youth, Agim Sahin, the head of the UN”, the report said. /Periscopi