Remittances fall

Chairman of the Board of CBK, Gazmend Luboteni said that remittances are very important for Kosovo's economic development.

He said the two segments extremely important for strengthening of the economy of Kosovo, are remittances and foreign direct investment. However unfortunately, according to him, because of the effects of financial crisis and developments in the euro area, there has been a very significant decrease in remittances during the first quarter of 2012, which are around 6 million. He said that an amount that is over 500 million euro is extremely important and emergency assistance for Kosovo's economy.

"Unfortunately, according to available data, due to effects of financial crisis and developments in the euro area, there has been a substantial decrease in remittances around 6 million during the first quarter of this year. But, however we are not very pessimistic in this regard, because usually in middle of the year when the largest flow of our workers, that work abroad, the situation can change and that level can be raised, which is currently low compared to last year. So we are optimistic again," said Luboteni.

While the Minister of Diaspora, Ibrahim Makolli, said such studies are assistance to institutions in drafting of favorable policies for the future of the country. He said that Kosovo has sufficient capacity for foreign investors and that is the place for which there is interest and investment from our migrants are of particular interest for Kosovo. However, according to him one of the basic prerequisites remains the improvement of investment environment. He said that applicable laws in our country aim at stimulation and encouraging of foreign investors in Kosovo, ensuring them that their investments will be protected and fairly treated. Makolli further stated that Kosovo has removed most barriers of business, creating facilities for them, economic stability and bank stability.

"The Diaspora Ministry remains committed to provide all its contribution according to legal frameworks and one of the main goals is identification, encouraging and support of foreign investment, with particular emphasis of investment for members of Diaspora.

Ministry of Diaspora, in cooperation with other state institutions, will be committed to drafting of favorable policies for investment from Diaspora, because we highly appreciate the review of the possibilities of creating favorable fiscal offerings, especially when taking into account that investment potential of Diaspora members in their homeland, are the main meter of economic stability in Kosovo and a very important positive signal for investors from foreign countries ", Makolli.

M.ZEKA