The Kosovo Chamber of Commerce and Industry (DHTIK) has expressed its concern regarding recent developments in the Middle East, which are already reflected in the rising prices of petroleum products in our country.
In DHTIK’s statement, it is noted that, given the expanding crisis, the risk of a negative impact on a large number of economic sectors and the further increase in the cost of living and citizens’ basic consumption is significant.
“Since Kosovo imports 100% of its fuels, which are widely used in the economy, the continuous rise in fuel prices directly affects the cost of transportation and the production of food products and essential services, particularly impacting the most sensitive sectors of the economy,” the DHTIK statement reads.
Furthermore, it states that this situation will increase production costs for domestic businesses, reduce competitiveness, and lower export potential, which has already been severely affected by rising energy prices and the unfairly implemented energy liberalization.
“The crisis could also lead to an increase in inflation,” the statement adds.
On this occasion, the Kosovo Chamber of Commerce and Industry called on all responsible institutions to take concrete and immediate actions, starting with establishing a structured and continuous dialogue with the business community, in order to identify real challenges and find joint solutions.
DHTIK proposes that the possibility be considered of temporarily reducing or suspending certain taxes for businesses most affected by the price increases, as well as reviewing the tax burden on essential products, in order to mitigate the impact on consumers and support domestic production and exports.
“The Chamber is ready to offer its contribution to overcoming this situation,” the DHTIK statement concludes.
