The challenges of the Kosovo economy

The challenges of the Kosovo economy

Pristina, 26 May 2016/Independent Balkan News Agency

By Elton Tota

Kosovo’s economy continued to face numerous problems in 2016.

The high trade deficit, the lack of suitable tax policies and an unsuitable business environment are some of the problems that characterize this economy.

Representatives of the international community and analysts in Pristina demand an action plan for a functional and competitive economy.

The EU ambassador to Kosovo, Samuel Zbogar believes that Kosovo’s economy continues to be challenged by foreign industries, corruption, unemployment and great poverty.

According to him, there must be greater institutional engagement to fight these negative phenomena and attract investments in order to develop the economy in general.

The head of the European Council for Investments, Emmanuel Mitosu says that Kosovo’s institutions must facilitate talks between European investors and high officials of the government of Kosovo.

He believes that after the enacting of SAA, there’s a greater need for the improvement of cooperation with serious companies which operate in EU member countries.

Meanwhile, economy expert Shkelzen Dakaj told IBNA that the main domains which must be developed are education and the creation of human capital, development of financial markets, the opening of international trade and the strengthening of the rule of law.

“All of this can only be achieved if we work in order to increase competition through technological innovation. Then we must invest in education, improvement of the rule of law and the creation of a suitable business environment”, he says. /