Number of businesses going bankrupt in Kosovo growing

Number of businesses going bankrupt in Kosovo growing

Pristina, 11 August 2015/Independent Balkan News Agency

By Elton Tota

Number of businesses that go bankrupt in Kosovo within a year is very high and concerning.

According to the data from the Ministry of Commerce and Industry, for the first six months of the year, 909 businesses have ended their activity and only 18 foreign businesses have been registered in the same period.

The head of the Kosovo Chamber of Commerce, Safet Gerxhaliu, says that the reason for the high number of businesses that end their activity relates to the lack of a good business environment.

According to him, with the changes that the government is expected to make, an improvement of the economic situation is expected to take place.

According to Gerxhaliu, it’s important to have new businesses and new foreign investors in 2015.

Meanwhile, Ibrahim Rexhepi, expert of economic affairs, said that the number of businesses that go bankrupt  as opposed to those that open, is really worrying.

According to him, it’s said that Kosovo has not yet built a sustainable business climate, while tax policies are not enough, given that they relate to the consumer more than businesses.

“These policies do not change the business environment a lot, as businesses need more security, more protection and also other encouraging measures”, Rexhepi says. /ibna/