Bosnias Serb Republic to save EUR 7.67mn via 2012 budget rebalance.

By bne IntelliNews August 3, 2012
Bosnias Serb Republic government will draft by end-August a revision plan on this year budget in order to meet an IMF request for saving BAM 15mn (EUR 7.67mn) by end-2012 and create conditions for signing a new loan deal with the Fund, the Republics finance minister Zoran Tegeltija was quoted as saying by news agency Srna. Tegeltija said that the savings that will be achieved thanks to the budget rebalance will not impact anyones income. He dismissed statements made by the opposition that the government has pledged to cut spending on social rights by BAM 5mn in a letter of intent to the IMF. Tegeltija added that the Fund is seeking from Bosnian authorities to apply budget savings, implement a stronger public spending control and suspend new employment. Last month, the IMF said it 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, including budget revisions of Bosnias two entities the Serb Republic and the Federation. Bosnia failed to meet the conditions to unfreeze its earlier EUR 1.1bn stand-by deal with the IMF signed in July 2009. The Balkan state, which is divided into the self-governing Federation and Serb Republic, managed to withdraw only a third of the funds.
Read in IntelliNews Pro
Get IntelliNews Pro

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

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    5 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    6 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss