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The economy is hit hard by pandemic mismanagement – Latest News

The economy is hit hard by pandemic mismanagement

The coronavirus pandemic has shaken economies around the world and has undoubtedly had an impact in Kosovo, as during 2020 there has been a decline in Gross Domestic Product (GDP) by minus 6 percent.

According to data from the World Bank and the International Monetary Fund, this decline during 2020 made Kosovo the largest decline in the region, after Montenegro marked a decline of minus 15.2 percent.

Albania has had a decrease of minus 3.5 percent, while Serbia has had a decrease of only minus 1 percent.

The decline in Gross Domestic Product in Kosovo, according to Driart Elshani, data expert, occurred due to mismanagement of the crisis caused by COVID-19 during 2020.

He cites the main reasons that have led to the decline in economic growth in Kosovo.

“The lack of a clear strategy against COVID-19, the overthrow of a government at the start of the pandemic, the design of policies unsuitable for the circumstances of Kosovo and the economic structure that Kosovo has. The delay in the approval of laws, for example, the Law on Economic Recovery was approved at the end of 2020 “, says Elshani.

He says for Radio Free Europe that in Kosovo there was a lack of communication centers for crises, where citizens could present problems or receive help. Elshani also says that there was a lack of data collection and management digitally, so that policies are based on data and not ad-hoc policies.

The aid that the previous government provided, according to Elshani, was not directed directly at the citizens and the distribution was not appropriate.

“Consequently, a decrease of minus 6 percent of Kosovo’s GDP, has very big consequences, either for the increase of unemployment, or for the further impoverishment of the population in Kosovo. “The new government has said it will support workers as well as businesses, and this is very encouraging, because it is very important that workers and citizens are directly supported,” says Elshani.

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