Central Bank: The Greek crisis doesn’t affect Kosovo

Central Bank: The Greek crisis doesn’t affect Kosovo

Pristina, 3 July 2015/Independent Balkan News Agency

By Elton Tota

Central Bank of Kosovo says that the financial crisis in Greece will not have any impact in the economy of Kosovo.

The spokesman of the Central Bank, Besnik Kada says that the impact of this crisis will be minimal, as the economy of Kosovo has a very low level of exposure toward Greece’s economy.

“Greek direct foreign investments in Kosovo are very low, therefore developments in the Greek economy are not expected to have an important effect in the general level of foreign investments in Kosovo. Greek investments in Kosovo occupy only 3% of the total”, Kada declared.

According to Kada, Kosovo also has a very low volume of trade with Greece. In the first quarter of 2015, trade with Greece consisted on 0,2% of total exports and 4,4% of total imports.

Kada says that this crisis will not be reflected, also due to the fact that Kosovo doesn’t receive remittances from Greece, which would have an impact in the economy.

Meanwhile, economy expert, Ibrahim Rexhepi says that bearing in mind the direct economic relations between Kosovo and Greece, then the Greek crisis will have no impact whatsoever.

According to him, besides the fact that Kosovo has no Greek banks, Greek investors are not really present in Kosovo. /ibna/