After six failed attempts Kosovo Parliament finally passes the Law on Economic Recovery

Gazeta Express

12/10/2020 11:21

Kosovo Parliament has passed Monday an important law aimed at helping the country face COVID-19 pandemic consequences in economy.

Kosovo MPs with 64 votes in favour voted in principle the Draft Law on Economic Recovery, and to enter into force the Law should undergo voting procedures for the second time in the Parliament. This was the seventh time the Draft Law was sent to Parliament for voting. Opposition parties (Vetevendosje and PDK) at the beginning of today’s urgent session of Parliament stated that their MPs will vote against passing of the law. The Law enables taxpayers to withdraw ten percent of their pension savings from the Kosovo Pension Saving Trust which manages over two billion euro of around 690 thousand taxpayers. Experts have estimated that if the new Law enters into force citizens will have the right to withdraw around 200 million euro, which according to the Government officials, might be used to boost country’s economy hit hard by COVID-19 pandemic. Most of businesses of all sectors in Kosovo have reported big finical loses or decrease of products, since the Government introduced first anti-COVID-19 measures in early March 2020. Kosovo Government has implemented the emergency fiscal package, by distributing around 180 million euro mainly for businesses and those who lost their jobs due to pandemic. /GazetaExpress/