The reductions in electricity, which have been applied for two weeks now in our country, are causing great financial losses to local businesses and producers.

Leaders of the American Chamber of Commerce in Kosovo have criticized the country's institutions for inaction in improving the regular supply of electricity.

The executive director of OEAK, Arian Zeka, says that as a result of unannounced electricity reductions for businesses, financial damages in factories reach millions in just one day.

Zeka also spoke about the institutions' delays in making capital investments and about the non-spending of budget funds.

"It is unfortunate that adequate measures are not being taken to improve or provide an uninterrupted supply of electricity.

The consequences are borne by citizens and businesses, but what we, as the American Chamber of Commerce, have asked from the institutions of the country is to do their best and guarantee an uninterrupted supply for private enterprises in the country, especially for the manufacturing enterprises to which they are caused very large damages both financially and technically due to unannounced power outages.

Businesses, especially those in the manufacturing sector, are currently facing financial damages that amount to tens of thousands of euros, I'm talking about individual cases, for specific factories in one day.

Kosovo does not have a very developed industry,

He adds that the year 2022 will be a lost year in terms of the impact of capital investments, since, as he says, there was no realization of investments and spending of budget funds.

"We had non-realization of capital investments, even non-spending of budget funds.

Capital investments expand or have the greatest multiplier effect on the country's economy in the medium and long term, however, it seems that this is not properly understood by the institutions and consequently this also affects the difficulties of operating private sector enterprises, such as and in the contraction of economic activity in general, and of course in blocking the real economic potential, which could be used for the economic development of the country, in case the capital investments would have been realized.

Now we are in August, within the next two to three months it is impossible to announce public procurement activities since there are also legal restrictions in this aspect,

Zeka announced that in the meeting with the US Deputy Assistant Secretary of State, Gabriel Escobar, the discussion was focused on the importance of the economic integration of the Western Balkan region, in the creation of a common regional market, such as the initiative for the open Balkans.

He says that OEAK supports the initiative for the open Balkans.

"The discussion was also focused on the importance of the economic integration of the Western Balkan region, in the creation of a common regional market, in the importance they have, such as the initiative for the open Balkans, for which at the moment the institutions of Kosovo are reluctant to to become Kosovo.

We as the American Economic Chamber support the initiative for the open Balkans, where we have tried to emphasize the importance of an initiative like the open Balkans to the government of Kosovo.

We have requested that the same becomes part of the discussions where the framework for a common regional market is formed under the name of the open Balkans or by any other name.

"Unfortunately, the country's institutions see this issue differently," concludes Zeka.

/Telegraph/