Bosnia’s Federation govt approves 2014 budget draft with higher revennue/expenditure targets

By bne IntelliNews November 6, 2013

Bosnia’s Federation government said it adopted on Wednesday, Nov 6, next year’s budget draft, aiming for BAM 2.36bn (EUR 1.2bn) in revenue, up 6.5% compared to this year’s plan.

The Federation gave no other figures on the 2014 fiscal plan in a statement on its website, saying the draft has been submitted to parliament for approval. It typically plans balanced budgets, meaning equal size of revenue and spending – in this case BAM 2.36bn.

The statement said that the government will target restrictive public spending as one of the priorities in the economic policy in the coming years. The draft also envisages a state guarantee (of unspecified size) for credits to be taken by motorway operator Autoceste for the implementation of the Vc motorway project.

The government said in September that the Federation’s total budget revenue and income from borrowing dropped 3% on the year to BAM 868mn in the first six months of 2013. On the other hand, total Jan-Jun expenditure reached BAM 813mn, equal to 31% of this year's plan. The Jan-Jun total revenue and borrowing proceedings equaled 39% of the full-year plan.

Back then the government gave no figure for its six-month budget balance. Yet, taking out the budget financing receipts from the overall revenue and borrowing figure given, became clear that the revenue (thus at BAM 738mn) covered expenditures by less than 91%, or the budget posted a BAM 75mn deficit.

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