Bevanda Promises 2021 Budget to be Prepared on Time Due to New IMF Loan

(Patria) - Deputy Chairman of the Council of Ministers of BiH and Minister of Finance and Treasury Vjekoslav Bevanda held a meeting today with the Head of the International Monetary Fund (IMF) mission Martin Petri to discuss the possibilities for a new arrangement and the conditions that this credit borrowing would entail.

Minister Bevanda emphasized that the Ministry of Finance and Treasury of BiH and he personally can meet the proposed deadlines and obligations within their scope of work, which is primarily the preparation of the Budget of BiH Institutions for 2021.

“The Framework Budget Document (DOP) for the period 2021-2023 is the basis for adopting the budget for the next year. The Ministry of Finance has prepared the DOP and it must be adopted at a session of the Council of Ministers. After that, we will very quickly submit the Budget for the next year to the procedure. We are aware that temporary financing is the worst option, and we are the first to advocate for the budget to be adopted as soon as possible,” said Minister Bevanda.

The Minister of Finance and Treasury of BiH reminded that the Fiscal Council adopted the Global Fiscal Framework in September this year, which set the limit for the budget of BiH institutions at one billion and 27 million KM, an increase of 31.1 million compared to this year.

During the meeting, Minister Bevanda emphasized that in these difficult times of the pandemic and major economic challenges, the status of businessmen, as well as police officers, soldiers, and civil servants, should be taken into account, which is also insisted upon by trade unions.

The interlocutors agreed that reforms must be implemented in the interest of the entire society and that governments are facing great challenges. Minister Bevanda, who is also the Chairman of the Management Board of UINO, emphasized that important decisions on revenue distribution were made in the previous period, and if politicization is avoided, it will be possible to continue with the positive work of this body. In addition to Minister Bevanda's associates, the meeting was also attended by the IMF Resident Representative in BiH Andrew Jewel.