Government Claims: All FBiH Obligations Are Settled On Time and Without Delay

(Patria) - The FBiH Government and the Federal Ministry of Finance, in relation to the statements of the IMF Resident Representative, published in a daily newspaper, wish to remind that the FBiH budget for 2024 is being executed in accordance with the planned schedule and with stable prospects.

"Regarding liquidity, all Federation obligations are settled on time and without delay. This is evident to all payment recipients from the Single Account: pensions are invariably paid on the 5th of the month, disability benefits are paid to beneficiaries on the 9th of the month, and salaries of budget users on the 12th of the month.

This rhythm of monthly payments is extremely stable, and cash flow plans do not indicate any disruptions in the upcoming period.

Material costs and transfers are also paid regularly, and the Federation has no outstanding obligations for any type of payment. While regulations allow payment terms of up to 60 and 90 days, Federation obligations are generally paid within significantly shorter periods.

Debt repayment is strictly on time, and there is no question of securing financial resources for this purpose, as Mr. Tudyka states in his response, which has been reshaped in a modified and dramatic way in the text's headline.

Confirmation of this is the recently conducted credit rating, prepared by two reputable international rating agencies, confirming stable prospects for the Federation of BiH precisely due to its good internal liquidity position and access to domestic and external financing sources that are sufficient to maintain liquidity and ensure smooth debt servicing.

When it comes to budget execution, a comprehensive report for the first six months will be ready by the end of the month, but it is already possible to confirm that tax revenues, which constitute 90 percent of budget revenues, are collected in accordance with the plan, without shortfalls.

The stated facts clearly show that, despite all fiscal needs, the Federation of BiH pursues a stable and responsible approach to public finance management, which enables the maintenance of positive dynamics and ensures financial sustainability in the future," announced the FBiH Government's Office for Public Relations.