Bevanda submits Draft Budget for 2022 to the Council of Ministers of BiH

(Patria) - The Draft Law on the Budget of BiH Institutions and International Obligations of BiH for 2022 was sent today from the Ministry of Finance and Treasury of BiH to the General Secretariat of the Council of Ministers of BiH for adoption procedure.

After the Council of Ministers of BiH adopted the Framework Budget Document (DOP) for the period 2022-2024 yesterday, conditions were created for the adoption of the Draft Law on the Budget of BiH Institutions and International Obligations of BiH for 2022. Deputy Chairman of the Council of Ministers of BiH and Minister of Finance and Treasury Vjekoslav Bevanda emphasized that the Ministry of Finance and Treasury of BiH completed the work on the DOP and this year's budget in the shortest possible time under the given circumstances.

“The Global Fiscal Balance Framework and Policies in BiH for the period 2022-2024 was adopted on March 30, 2022, followed by work on two extensive documents on which the financing of BiH institutions and the repayment of public debt are based. Therefore, the Ministry of Finance and Treasury of BiH completed this demanding task within two months, and we expect the further procedure for adopting the budget to continue without difficulties,” said Minister Bevanda.

Based on the Constitution and laws, the Ministry of Finance and Treasury of BiH is the technical executor in the budget adoption process. After the Council of Ministers adopts the Draft Law on the Budget of BiH Institutions and International Obligations of BiH for 2022, it is sent to the constitutional proposer - the Presidency of BiH, which determines the proposal of the Law on the Budget of BiH Institutions and International Obligations of BiH, after which it is sent for adoption to the House of Representatives and the House of Peoples of the Parliamentary Assembly of BiH.

The Global Fiscal Balance Framework and Policies in BiH set the framework for the budget of BiH institutions for 2022, which will amount to 1,073,600,000 KM, of which the allocation of indirect tax revenues for the BiH level is 865,500,000 KM, and the rest are own revenues.