EBRD: Grey economy is the main obstacle for businesses in Kosovo

EBRD: Grey economy is the main obstacle for businesses in Kosovo

Pristina, April 9, 2015/Independent Balkan News Agency

By Elton Tota

Grey economy, problems with power supply and corruptive practices have been identified as the three main challenges of doing business in Kosovo, based on an analysis of the European Bank for Reconstruction and Development (EBRD).

The bank in question has released a press statement where it says that grey economy has been mentioned by business owners in Kosovo as the main challenge, consisting of 66% of the problem relating doing business.

This figure is the highest in the 30 states where the study has taken place.

EBRD says that this is the fifth time that along with the World Bank, they hold a survey called “Business Environment and Entrepreneurship” for 2013 and 2014.

The survey has involved 15 thousand companies of EBRD member countries.

Corruption continues to be one of the main problems of doing business not only in Kosovo, but EBRD says that an increase has been identified in cases of corruption, such as informal payments which are expected or demanded by tax officials.

The report also says that all the countries where the survey has taken place, have seen a fall in informal payments for officials.

The biggest fall in informal payments for public officials has been registered in customs, tax administration, etc. /ibna/