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KOSOVO ON THE ROUTE TO MARKET ECONOMY

KOSOVO ON THE ROUTE TO MARKET ECONOMY. Authors : Domadenik Polona Mulaj Isa Redek Tjaša . Weak economic dynamics. Dependency on foreign assistanc e. Future economic development. Despite numerous problems… Political situation and undefined status

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KOSOVO ON THE ROUTE TO MARKET ECONOMY

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  1. KOSOVO ON THE ROUTE TO MARKET ECONOMY Authors: Domadenik Polona Mulaj Isa Redek Tjaša

  2. Weak economic dynamics 8th Portorož Business Conference

  3. Dependency on foreign assistance 8th Portorož Business Conference

  4. Future economic development • Despite numerous problems… • Political situation and undefined status • Numerous problems in the process of economic transition: building own institutional system, slow restructuring, slow privatization • Often unclearly defined property rights, specially in the public sector • Poor legal system • Destruction due to war • Undeveloped financial system… • ….Kosovo has development potential: • Resource rich economy • Young population eager to work and learn 8th Portorož Business Conference

  5. INDUSTRIAL STRUCTURE OF KOSOVO ECONOMY Authors: Polona Domadenik Tjaša Redek Besnik Berisha Mentor Pllana Riad Rashiti Artan Sadiku

  6. Insurance sector Insurance sector relatively underdeveloped • Mainly car insurance • Life insurance market expanding fast (2002 395 policies, in 2005 25 296 policies) 8th Portorož Business Conference

  7. Banking sector • Banking most developed financial service • Importance of foreign banks • Increased competition • Increased confidence • …and lowering the interest spread, which is very high (12) and contributes to slower economic activity 8th Portorož Business Conference

  8. Construction sector • Strong activity after the war due to reconstruction… * Category 3: up to 30% damage to the roof, category 4: over 30% damage,category 5: completely destroyed. • But several problems exist: lack of capital, low profits, lack of electricity, too much government interference, bureauctratic delays … 8th Portorož Business Conference

  9. ERA’S ENTRY INTO THE KOSOVO MARKET Authors: Irena Vida Jožica Komac Vladka McLaughin Ladmanova Jelena Rakić

  10. ERA in KOSOVOGrowth Rates in Retail Trade (in %) Source: Eurostat STS and National Statistical Institutes in Behrens, 2006, p. 6 But the market is still immature… 60% of income is spent on food. 8th Portorož Business Conference

  11. Shopping in Various Retail Formats Consumers were allowed to choose more than one answer. Source: Consumer Survey in Kosovo (1), 2006. 8th Portorož Business Conference

  12. Characteristics of the shoppers Source: Consumer Survey in Kosovo (1), 2006. 8th Portorož Business Conference

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