Kosovo Unemployment Rate At 50%

Kosovo authorities want to privatize agricultural land, enterprises, shops and a meat processing company to revive Kosovo’s economy, Asocciated Press reported, quoted by BTA.

The Kosovo Privatization Agency, which is under UN’s management, started selling off companies which were once owned by workers and management under the system, created in former communist Yugoslavia.

Candidates in the biddings should submit their offers no later than 20 June. The bidder with the highest price will win the competition, the agency said. Kosovo has so far privatized more than 200 companies, most of them deemed ineffective, generating some 282 mln euro.

The Privatization Agency wants the business to modernize Kosovo’s economy where unemployment rate is 50%. Privatization is a sensitive topic in Kosovo because of its unsettled political status.

The sell-off of companies caused protests in Serbia, which insists that the region should remain within its borders.

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