Bosnia’s state-level government approves 2014-2016 fiscal framework

By bne IntelliNews October 24, 2013

Bosnia’s central government has approved the fiscal framework for 2014-2016 setting the annual spending of state-level institutions at BAM 950mn (EUR 486mn), the government said in a statement following its regular weekly meeting on Oct 23. Revenue from indirect taxation is seen at BAM 750mn annually over the next three years, unchanged compared to 2013. No further details were available.

Bosnia's 2013 budget bill amounts to BAM 1.73bn, including BAM 950mn financing for the state institutions and BAM 788.5mn for servicing the country’s foreign debt. Apart from the BAM 750mn tax revenue, the total financing also includes BAM 140mn in non-tax income, BAM 7.2mn in donations and aid and the remaining BAM 52.8mn are to come from other financing and revenues*.

The country’s consolidated budget which includes state-level institutions and the two entities – the Federation and the Serb Republic - is expected to post a deficit equal to 2.0% of the full-year GDP firecast, down from 2.6% of GDP the year before, according to the IMF. Nonetheless, in January-June 2013, the consolidated budget recorded a surplus of BAM 109.6mn, according to central bank data. However, the latter exclude capital investments in the field of infrastructure and municipalities budgets and are likely underestimating the overall level of expenditures.

* including BAM 23.4mn of foreign borrowing and BAM 9.8mn of macro-financial support from the EU.

Related Articles

US puts Albania, Bosnia and Serbia on blacklist of major money laundering countries

The US department of state has included Albania, Bosnia & Herzegovina and Serbia in its latest list of major ... more

EBRD says 2016 net profit was around €1bn

The European Bank for Reconstruction and Development (EBRD) said it made a net profit of around €1bn in 2016, up by a quarter from the €802mn it made in ... more

Bosnian Serbs to block work of state-level institutions following genocide case appeal

The parliament of Bosnia & Herzegovina’s Serb-dominated entity, Republika Srpska, voted on February 27 to reject and ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss