Crisis in the Euro zone is reflected in Kosovo

Crisis in the Euro zone is reflected in Kosovo

Pristina, 20 September 2016/Independent Balkan News Agency

By Elton Tota

The financial crisis in the EU member countries, caused by budget deficits and large debts, will not have a big impact on Kosovo.

This is the opinion of economy experts in Pristina, bearing in mind that Kosovo doesn’t have close economic relations with these countries.

Analyst Naim Gashi says that the financial crisis in the European Union will not slow down economic growth in Kosovo.

“Each crisis that occurs there, can have an impact in one way or another in partner countries too, but bearing in mind that Kosovo doesn’t have close economic relations with these countries, then we can say that the crisis will not be reflected to a large extent in this country”, he said.

The same opinion is also shared by the expert of economic affairs, Ibrahim Rexhepi.

“Economic crisis in the EU member countries will not have a direct impact, because Kosovo is not a very developed country and it doesn’t have very close economic relations with the countries affected by the crisis. There is no investment or capital that comes from those countries which could be reflected in Kosovo”, Rexhepi says.

While in 2010-2011 recession in the EU countries was around 1%, Kosovo saw 3 to 4% growth.

According to experts, this shows that the financial crisis in the European Union didn’t slow down economic growth in Kosovo.

However, the first impact that Kosovo may feel from the financial crisis in the EU may be felt in several domains, especially in foreign investments.

A while ago, the IMF said that the world financial system now is more prone to be affected than during the time of the global financial crisis in 2008. /balkaneu.com/