Economic projects harmed by the failure to constitute the Assembly

The World Bank has already warned of a slowdown in economic development in Kosovo this year. According to experts, the situation is expected to be further aggravated by the political deadlock in the country. This is because many international financial agreements have remained unapproved during the previous legislature. Among them is the financing agreement with the International Development Association, as well as the loan agreement with the European Investment Bank for projects in KEK.

The 17th attempt to constitute the Kosovo Assembly failed on Saturday. But how does the failure to form institutions affect the country's economic development?

The consequences are serious, warns the president of the Kosovo Chamber of Commerce, Lulzim Rafuna. He stressed that the lack of a constitution endangers the economy, investments and reforms in the country.

"It has a negative impact and will have major consequences. These consequences will not be eliminated overnight. We are far behind in carrying out reforms and in approving many international agreements. We are behind in establishing a government, while business needs to draft fiscal policies, especially on the issue of electricity, which is urgent," he said.

The Kosovo Business Alliance also views the situation with great concern about the effects of the failure to form institutions.

Agim Shahini, president of the Business Alliance, stressed that this will have a significant impact and will have major economic and financial consequences. "Because the non-constitution and non-ratification of several agreements related to support for Kosovo worth over 1 billion euros, they risk being lost as a result of the lack of a functional Assembly and Government," he said.

Economic expert Safet Gërxhaliu says that the political crisis has a direct impact on many sectors, deepening economic and social uncertainties.

"The effects of this non-constitutional crisis harm Kosovo in many aspects. In economic terms, the country cannot develop without a genuine partnership with the European Union. The very fact that Kosovo will be overlooked this year by the Western Balkans Growth and Development Program is evidence of this. In these circumstances, it is difficult to think about attractiveness for foreign investors. In social terms, we face high inflation and crises that are deepening every day," said Gërxhaliu.

He added that the impact will also be in the political aspect, on the agenda of the Council of Europe and membership in various credible institutions./RTK