Bosnian parliament endorses 2012 budget.

By bne IntelliNews June 1, 2012
The upper chamber of the Bosnian parliament endorsed on Thursday, May 31, the countrys 2012 budget worth BAM 1.4bn (EUR 713mn), daily Oslobodjenje reported. Thus, the legal procedure on the adoption of this years budget bill of the state-level government has been finally completed. The budget bill comprises BAM 950mn of financing the countrys state institution and BAM 445mn for servicing the foreign debt. The upper chamber rejected all proposed amendments to the initially filed for debates document and approved the bill in its original framework, adopted by the government in mid-April. Under the bill, public sector wages will be cut by 4.5%. Ethnically-divided Bosnia spent on temporary financing the whole of last year and the beginning of this one after its politicians had failed to reach an agreement on forming a state-level government for more than 15 months after the October 2010 elections. The adoption of this years budget puts an end to the temporary financing. Twelve delegates in the upper chamber voted in favour of the fiscal framework, while three were against. The Serb, Croat and two Bosniak members supported the bill, while the three representatives of the Bosniak SDA party were against after the parliament rejected their proposed amendments. SDA sought an increase of the budget framework by BAM 47mn, saying the current fiscal planning endangers the functioning of the state institutions. The parliaments lower chamber approved the budget draft on May 24.

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