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Kosovar businessmen have an optimistic view of the Kosovo market

The Kosovo Chamber of Commerce presented to the business community, the diplomatic corps and the media a study of cyclical business environment survey in Q2 2016. The survey focused on the expected tendencies in the major areas of the corporate economy in the near future and on the Business Confidence Index in order to provide an actual update of the development of the Kosovar economy.
 

The study has been conducted quarterly since 2013. The survey included data obtained from 387 Kosovar companies from the sectors of trade, manufacturing and service industries. The data were collected by the staff of the chamber and the evaluation was done with support from German and Dutch experts. The results of the study will allow the government to improve Kosovo's current view of the economic situation and to identify the changes in economic cycles. It was methodically based on the proposal of the German Institute for Economic Research IFO.

Interesting notes:

In the following 6 months, almost 45% of executives expect the positive development of the market for their companies, 46% believe that the situation will be stable and only 9% expect worse business trends in the market.

The managers of the companies from the manufacturing industry have the most optimistic view of the prosperity /profitability of their companies. The managers of the business firms and companies from the service sector see any further developments rather conservatively.

The complex Business Confidence Index of business activities decreased by 6% in the second quarter compared to Q1 2016 but it still reached 16.1%, which has been the highest figure for the second quarter since the year 2013 and it shows that the Kosovar managers expect the positive economic development.

More than 30% of companies perceive the current economic situation of their companies to be good, 54% to be satisfactory and only 16% to be unsatisfactory. The view of the condition and of the profitability of companies has improved in comparison with the year 2015.

More than 27% of companies are planning to recruit new employees in the next months, 68% intend not to change the number of workers and only 4% of managers are going to reduce the number of employees. Although the management’s general view of the further development of employment is less optimistic in comparison with Q1 2016, it still reflects the positive expectations for the future.

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Business Confidence Index