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English18/03/2020

BEVANDA: BiH’S FINANCIAL STABILITY NOT JEOPARDIZED

 

SARAJEVO, MARCH 18 /SRNA/ - Regarding the newly-arisen situation in connection with the coronavirus outbreak, Minister of Finance and Treasury in the Council of Ministers Vjekoslav Bevanda has said that the fiscal stability of BiH has not been jeopardized and that institutions are controlling the situation in keeping with their competences.

 

“Even under conditions when the budget for this year has not been adopted, control was not lost and we managed to organize work with existing means by making important decision. It would be much easier had the budget been adopted. We sent it to the General Secretariat of the Council of Ministers yesterday and I expect it to be adopted at the next session,” said Bevanda in a written statement.

He has said that the decision on provisional financing for the first quarter of the year will be in force until April 1 and that all payments are within legally stipulated bounds, but that the provisional financing has certain limitations.

Bevanda expects that after the Council of Ministers votes on the draft budget, it will be sent to the BiH Presidency and then to the BiH Parliamentary Assembly which has a final say.

He has added that consequences of the coronavirus outbreak are global which is why we can expect aid from international financial institutions, and the International Monetary Fund has already prepared programs which would finance activities during the emergency situation.

Bevanda, who is also the chairman of the Steering Board of the BiH Indirect Tax Authority, has said that the Authority is working without hindrance, that developments in final consumption and collection of revenues are being monitored, and that depending on an analysis by the Steering Board, he is ready to undertake necessary activities.

The Minister of Finance has stressed that measures should be undertaken to cushion the blow on the economy, agriculture and the standard of living of citizens, and that the Entity Governments have already undertaken certain measures.

Bevanda has stressed that it is necessary to act within the scope of the Constitution and laws regardless of the emergency situation, and that a successful result can be achieved only with good organization and team work at all levels of authority, since the health of citizens of BiH must remain in the focus in such situations. /end/sg