Bevanda: BiH's fiscal stability is not threatened

SARAJEVO, (Patria) - Deputy Chairman of the Council of Ministers of BiH and Minister of Finance and Treasury Vjekoslav Bevanda emphasized, regarding the new situation with the spread of coronavirus, that BiH's fiscal stability is not threatened and that institutions are controlling the situation in accordance with their competencies.

“Even in conditions where the budget for this year has not been adopted, control has not been lost, and we have managed to organize work with existing funds by making important decisions in recent days. It would be much easier if the budget, which we sent to the General Secretariat of the Council of Ministers yesterday with collected opinions, were adopted, and I expect that we will successfully complete our part of the work and adopt it at the next session,” emphasized Minister Bevanda.

He reminded that the Decision on temporary financing for the first quarter is in effect until April 1st of this year and that all payments are within legal frameworks, but that temporary financing has certain limitations. Minister Bevanda expects that after the upcoming decision in the Council of Ministers, the draft budget will be sent to the constitutional proposer – the Presidency of BiH, and then to the Parliamentary Assembly of BiH, which has the final say. He added that the consequences of the coronavirus are a global problem, which is why aid from international financial institutions can be expected, and the International Monetary Fund has already prepared programs that would finance activities during these extraordinary circumstances.

Minister Bevanda, who is the Chairman of the Indirect Taxation Authority (UNO) Management Board, pointed out that there are no obstacles in the work of the Administration and that developments in terms of final consumption and revenue inflow are being monitored, and depending on the analyses, the Management Board is ready to take the necessary actions. He emphasized that measures should now be taken to mitigate the impact on the economy, agriculture, and the general standard of citizens, and that entity governments, which have jurisdiction over specific areas, are already taking certain measures.

Minister Bevanda concluded that it is necessary to act within the framework of the Constitution and laws, regardless of the extraordinary situation, and that a successful outcome can only be achieved with good organization and teamwork at all levels of government, because in such situations, the health of the citizens of BiH must remain the focus.