Rising Oil Prices Threaten Kosovo's Economy, Experts Warn

Kosovo is facing significant economic and social burdens due to rising oil prices worldwide, according to Safet Gerjaliu, former head of the Kosovo Economic Office.

The main cause of this issue is the imbalance between supply and demand, exacerbated by wars and conflicts in major oil-producing regions, including the Persian Gulf and Ukraine.

Gerjaliu cited the destruction of approximately 70% of Russia's production capacities and oil storage facilities due to Ukraine's attacks as a significant factor contributing to this situation.

The price of oil can have a ripple effect on other sectors of the economy, particularly in transportation, and may lead to increased prices for various products and services.

Gerjaliu expressed concern that Kosovo lacks state oil reserves, making it more vulnerable to international market shocks.