22. December. 2011.

Grebo: Economy of CS in deep crisis

President of the Chamber of Commerce of the Canton Sarajevo (CCCS) Kemal Grebo said today that reported operating results and trends of economic development in the Canton of Sarajevo for this year alert cantonal authorities, in cooperation with CCCS, to engage much more to help the economy of Canton Sarajevo.

On New Year's press conference at the premises of CCCS, Grebo said that, according to forecasts by a Chamber, 2012. will be very difficult financial year with a strong financial "shocks"  which are expected in a lot more developed economies regarding to ours.

"The expected new wave of financial crisis in the euro zone will only deepen and multiply the current bad situation in the economy, while for the economy of Canton Sarajevo we can say that it is already in deep crisis. This means that without a clear strategy for future development, customized to resources that are available and to the new business conditions, it would be difficult for CS to achieve favorable results. The negative trend in industrial production, most of the year, has also affected employment in the growing number of companies before shutting down or facing bankruptcy, which will, in the final consequences, have a negative reflection on budget and funds, "said President CCCS and Kemal Grebo.

He added that the Canton of Sarajevo made a deficit of 2.1 billion KM in foreign trade in 2010., while that at the end of this year he expects that the deficit will be 2.7 billion.

Grebo said that we should ask ourselves whether in the Canton of Sarajevo to continue with the construction and opening of the shopping and business centers, or force the development of industrial production, especially its processing sector, which in a positive way could change the state of the CS economy.

"The economy has to get a specific stimulus from the authorities and to know what the long-term development vision of Canton is. For now, CS provides no guidance in which direction to lead the further development of the economy of Canton. It is necessary to prepare new documents on the development of Canton, but, also, amend the provisions in the tax and investment policies and regulations in local communities, in the direction of creating incentives for faster creation of new businesses and new jobs, "said Grebo.

He concluded that the achieving of any of these goals requires, above all, maintain political stability in the country.

(FENA)