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State heading toward bankruptcy (Zeri)

By   /  05/08/2014  /  No Comments

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Editor Enis Veliu argues that the increase of the financial deficit and the public debt are posing a serious threat to Kosovo’s financial stability. “The country is headed toward economic decline and the most recent parameters are alarming despite the fact that state institutions are not considering them as such … The economic situation is expected to suffer especially by the end of the year while the two key institutions that collect funds for the state budget are failing to implement their cashing-in plans. According to official data, Customs have so far collected €460 million from €930 that it needs to collect by the end of the year. Meanwhile, the Kosovo Tax Administration has so far collected €182 million from €367 that is planned in the budget. If this trend continues, by the end of the year Kosovo will be faced with at least €300 million deficit, and around €700 million in public debt. This however is not the end of the crisis. The situation can deteriorate even further if state does not review several decisions by the outgoing Prime Minister, especially the decision for subsidies for farmers in the amount of €180 million. Therefore, stopping certain public works that are considered a luxury at this point, such as the construction of the Pristina-Skopje highway, is the only alternative for overcoming the crisis temporarily, otherwise the state will collapse together with hundreds of construction companies that have done public works but were never paid for this.”

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  • Published: 10 years ago on 05/08/2014
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  • Last Modified: August 5, 2014 @ 3:13 pm
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