Canton Sarajevo paid 80 million KM in interest to banks in the last five years alone

(Patria) - The Cantonal Board of the Party for Bosnia and Herzegovina Sarajevo, after several statements made about the problem of credit indebtedness of Canton Sarajevo, now wants to inform the public about the result of the drastic increase in credit obligations, announced this party organization.

In the period from 2019 to 2024, Canton Sarajevo paid approximately 80 million KM in interest alone based on credit debt.

At the same time, the obligations for interest to domestic and foreign creditors for the period 2025-2026 amount to approximately 74 million KM (2025: 37,189,534.66 KM - 2026: 36,984,302.91 KM).

This practically means that Canton Sarajevo will pay a total of approximately 154 million KM in interest to banks for the period 2019-2025 alone.

What is particularly interesting is that the total obligation for principal and interest to banks in 2025 amounts to 110 million KM, and in 2026 it will amount to 121 million KM.

It should be noted here that the entire debt of Canton Sarajevo before 2019 amounted to approximately 190 million KM, and now the loan installments and interest in a single year amount to approximately 110 million KM, with an increase towards the amount of 150 million KM.

When looking at these amounts of interest and loan annuities, it would be logical to ask where this ship is sailing?

Do the authorities even understand what the legal limit of 10% means, do they understand that a whole city could have been built from hundreds of millions of KM in credit debt, do they understand that the Canton's budget, thanks to the weighting factor, has a real decline (without fictitious revenues), and a dramatic increase in loans, do they understand that approximately 100 million KM in subsidies are allocated from the budget to public companies, and that with credit obligations, this amounts to 210 million KM in a single year (...).

Canton Sarajevo is facing a dramatic budget situation and can no longer meet the demands of trade unions, and public utility companies are becoming ruins for whose rescue citizens will be responsible by increasing the prices of their services, it was announced from KV SBiH Sarajevo.