IMF OFFICIALS CONFIRM NOVALIĆ'S CLAIMS Commendable economic resilience during epidemic and hyperinflation

SARAJEVO, (Patria) - IMF officials in Washington today confirmed all the claims that FBiH Prime Minister Fadil Novalić has been presenting to the public over the past few years regarding the state of the economy.

Namely, during a meeting with BiH Defense Minister Zukan Helez, they praised the economic trends in our country.

IMF Deputy Managing Director Bo Li commended the resilience shown by the economy of Bosnia and Herzegovina during the pandemic, as well as during the hyperinflation caused by Russia's invasion of Ukraine.

These very facts presented by IMF officials were the target of criticism in the Federation of BiH every time they were presented by Federal Prime Minister Novalić.

"Despite the crises caused first by the pandemic, and then by inflation that hit the entire world and raised prices of everything, during the mandate of the current Federation Government we managed to achieve GDP growth of as much as 11.85 billion KM," Novalić said yesterday to Fena, adding that the Federation today accounts for 70 percent of Bosnia and Herzegovina's economy.

Furthermore, at the end of last year, the per capita debt of the Federation was 2,986 KM, while that of Republika Srpska was 5,633 KM.

"We would like all levels of government in Bosnia and Herzegovina to have good economic results, because that way we all strengthen our country together. But, currently the situation is such that the Federation is the main axis of development of the state of BiH and the locomotive that pulls everything forward. What I want to emphasize is that the Federation does not borrow for consumption, but for capital projects, investments. Thanks to the low level of public debt, we are in a position to borrow for road infrastructure, energy projects, employment support, support for the economy, and other development projects," Novalić said.