News in English     | 23.04.2020. 14:41 |

Novalić presents to MPs the planned revision of FBiH budget

FENA Vernera Jakupović

SARAJEVO, April 23 (FENA) - FBiH Prime Minister Fadil Novalić presented to the MPs the proposed revision of this year's FBiH budget at an extraordinary online session of the FBiH House of Representatives, which is currently underway.

Compared to the previous amount, the FBiH Government has proposed that the revised budget amounts to KM 5,508,930,679, which is a planned increase of KM 554,538,278 or 11 percent.

Novalić said the government, as a budget proponent, was facing double pressure in preparing the revision - on one hand, to make relevant and realistic projections of expected tax revenue and contribution reductions as a result of the coronavirus pandemic, and on the other, to plan a stabilization fund that will provide significant money to help the economy and business entities in the FBiH.

Projections on the revenue are based on the expected decline in spending, primarily private ones, which is expected to reduce net income from indirect taxes by 15 percent, followed by revenue to profit of 21 percent; pension and disability insurance contributions are projected to be lower by 15.2% (KM 315 million). The latter, according to the Prime Minister, is "by far the largest deformation" in the net amount.

“The government will closely monitor the collection of these categories of revenues in the coming period, and in case of a significant deviation, will take the corrective measures that are envisaged by law. I emphasize that this is the time of the culmination of the declared coronavirus pandemic. The fact is that it is still completely unknown how long it will last and how much the state will normalize. It is very difficult and ungrateful to make projections of developments in macroeconomic indicators, especially projections of collection of revenues from indirect taxes and contributions,” said Novalić.

The expenditure side of the budget has undergone significant changes due to the need to help the economy, i.e. to plan significant amount of money in a stabilization fund.

The most significant feature of the budget revision is the planned 500 million KM for the Economic Stabilization Fund, which will serve to implement the law on mitigation of negative economic consequences in the conditions of a pandemic, which is part of the package of measures of the FBiH Government for assisting the economy and business entities.

In addition, Novalić cited the planned 20 million for the establishment of a guarantee fund at the FBiH Development Bank, which, with the remaining 80 million already allocated there, would represent a potential of KM 100 million, which, in agreement with banks, would be a multiplied guarantee capacity amounting to KM 500 million.

An additional 21 million KM is planned for the health system, three million for quarantine and 18 to mitigate the negative consequences of the coronavirus pandemic.

It is also planned 200 million to help lower levels of government, cantons, the Prime Minister also said, presenting this year's FBiH revision of the budget.

(FENA) A. B.

Vezane vijesti

The number of enrolled students decreased by 6.1 percent in the Federation of BiH

Delić: Criteria that adopters must meet should be strict and protect the best interests of children

The highest monthly net salary in 2023 in FBiH amounted to 429,123.86 KM

Promo

M:tel: Savršena kombinacija – Huawei telefon i pametni sat s popustom

M:tel: Stiglo nam je Proljeće!

Predstava 'Kako sam se nadala dobro se nisam udala' u BKC Sarajevo