Bosnias Federation adopts 2012 budget revision, raising revenue by 3.9%.

By bne IntelliNews July 27, 2012
Bosnias Federation government said it adopted on July 26 its 2012 budget rebalance, raising total revenue by 3.9%. Under the revision, total revenue climb to BAM 1.999bn (EUR 1bn) since the initial one was not enough to meet all the obligations of the Federation, the government said in a statement. The fiscal policy revision, which has been a condition for receiving a new IMF bail-out loan, aims to strengthen the stability of the financial system, to continue restrictive public spending and cut budget gap. The government will continue to monitor revenue collection and budget execution and, if needed, will adjust all budget expenditure to the available income. Bosnias PM Vjekoslav Bevanda said earlier this week Bosnias two entities the Serb Republic and the Federation, should revise their budgets until September 7, which is a number one condition before the country to receive a bail-out loan from the IMF. The Fund said last week it has agreed a 24-month funding deal worth some USD 500mn with Bosnia, which is a subject to approval by its executive board in September. Until then, Bosnia is expected to implement a number of agreed measures as part of the IMF-supported economic programme. Bevanda said that the remaining conditions include the continuation of structural reforms and the reduction of public spending, as well as the adoption of key laws on fiscal discipline.

Related Articles

EUs Sannino invites Bosnian leaders for conciliatory talks on March 22.

The European Commissions director general for enlargement Stefano Sannino has invited the leaders of Bosnias seven main political parties for consultations in Brussels on March 22 in an attempt ... more

Bosnias Serb Republic PPI, CPI inflation eases in Feb 2013.

Growth of consumer prices in Bosnias Serb Republic eased to 0.9% y/y in February from 1.5% y/y in January, as the annual decline of clothing and footwear prices widened, the entitys statistics ... more

Bosnias Federation fails to sell 67% of engineering company Hidrogradnja.

Bosnias Federation has failed to sell its 67% stake in engineering company Hidrogradnja due to lack of investor interest, the entitys privatisation agency said in a statement. The remaining 33% ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss