Bosnias fiscal council discusses fiscal policy framework 2012-2014.

By bne IntelliNews October 13, 2011
Bosnia's fiscal council has held a session dedicated on the global framework for fiscal policies 2012-2014, a release on the website of the country's council of ministers informs. The council analysed macroeconomic projections and projections for revenues from indirect taxes, as well as projections for the budget framework for 2012. The finance ministers at state and entity levels have made different proposals for the financing of Bosnia's institutions next year. The proposed amounts to be allocated from indirect taxes for financing state-level institutions have been as follows: ministry of finance of Bosnia BAM 948mn (EUR 484.7mn); ministry of finance of Serb Republic BAM 689mn; and ministry of finance of Federation BiH BAM 782mn. The ministers are obliged to agree on the framework budget proposal for 2012 by the fiscal council's next meeting, which is scheduled for Oct 26. The fiscal council also examined a comparative review of the wages of people employed in Bosnian institutions, the two entities and the Brcko District. The council also discussed the continuing cooperation with the IMF. The fiscal council will meet an IMF mission on Nov 22.
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