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The Covid 19 pandemic has closed about 3,000 businesses in Kosovo in the last two years. While only in 2021 1519 businesses were shut down.
According to economic experts, other factors besides the pandemic that have led to the extinction of such a large number of businesses, is the lack of the most favorable offer to do business.
Most of these businesses that have closed have operated in the wholesale and retail trade sector, followed by the hotel and accommodation sector, as well as the manufacturing industry. The list of bankrupt businesses also includes businesses in the field of construction.
The Ministry of Industry and Trade tells KosovaPress that during 2020 1346 businesses went bankrupt, while in 2021 1519 or 173 more were extinguished than in 2020.
“The reason for the extinctions is mainly voluntary extinctions“, Said in a written response from the Ministry of Industry, Entrepreneurship and Trade.
The Chairman of the Board of the Kosovo Chamber of Commerce, Skënder Krasniqi emphasizes that as a result of the poor economic performance of businesses in the country, the number of closed companies has continuously increased.
Krasniqi hopes that the Kosovo government will approve a support package for businesses as a result of the energy crisis in the country.
“Kosovo, like any other country, has a business bankruptcy, and the opening of new businesses, this may have happened due to the pandemic, and due to the inability of businesses to do business in this situation which is not easy. It is a very serious situation, we are hoping to have a better offer of businesses, a better treatment of doing business in order to have economic growth, employment growth and well-being. We are hoping that the Government will come up with a program to support businesses for the damage it is causing with the next shock, which is electricity.“, Stressed Krasniqi.
While the former Minister of Trade and Industry, Ismet Mulaj said that the number of businesses that are bankrupt is even higher than this of about 3 thousand of them reported in official figures.
Mulaj claims that due to the procedures required by the state, over tens of thousands of businesses have not been closed nor are they operating, and as he says, have remained suspended.
“This number of about 3 thousand businesses that have been closed in these two years, part of them is due to the Covid 19 pandemic, but also due to the state of the economic situation. But, there is also a large number, over tens of thousands of businesses which have not closed, nor have they started the process of closing the activity and have really remained suspended. So it is a very large number, and really this number of businesses which have not closed the business, but also do not do business at this time, create a problem not only for the Tax Administration, but the climate of doing business in Kosovo, for because they can potentially increase informality in Kosovo“, He says.
According to data from the Ministry of Industry, Entrepreneurship and Trade, a total of 19,863 businesses have been registered in the last two years. Of these, 9802 during 2020 while 10,061 in the previous year.
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