Finance Minister Tegeltija attends regional economic summit in Bečići

The theme of this year's summit was "Healthy public finances - a key prerequisite for economic growth and building a modern market economy in conditions of prolonged geopolitical uncertainty".

In his address, Minister Tegeltija emphasized the specificity of BiH when it comes to fiscal policy and the shared competencies between the entities and institutions at the level of BiH.

"When it comes to public debt, you should know that entities are mostly in debt. BiH does not have a problem with public debt, which is below 35 percent of GDP. The biggest problem is access to international markets because most of the countries in the region entered the market for the first time with a guarantee from the World Bank, while there was no agreement on this project at the BiH level," said Tegeltija.

He noted that, unlike other countries, Bosnia and Herzegovina maintained the same level of excise taxes and a single rate of VAT during the energy crisis.

"The profession was primarily against it and it turned out to be right because we have the cheapest oil derivatives in the region," Tegeltija stressed.

According to his assessment, economic growth in Bosnia and Herzegovina mostly generates investment growth in the areas of infrastructure and energy.

During the discussion, it was pointed out that high-interest rates will negatively affect the public sector, which is a problem for the entire region.

The Summit of Ministers of Finance and Governors of Regional Banks was attended by, among others, the Minister of Finance of Montenegro, Aleksandar Damjanović, and the head of the IMF office for the Western Balkans, Stefani Verena Ebl, stated the Ministry of Finance and Treasury of BiH.

(FENA) S. R.

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