Can the BiH Institutions' Budget be Adopted by Mid-May?

SARAJEVO, (Patria) - The Ministry of Finance and Treasury of BiH is currently working on the Framework Budget Document (FBD) for the period 2022-2024, after which, following legal procedures, the budget of BiH institutions for 2022 is being prepared, the Ministry of Finance and Treasury told Patria today. 

The BiH Fiscal Council adopted the Global Fiscal Framework (GFF) for the period 2022-2024 on March 30 this year, which enabled the initiation of procedures in the Ministry of Finance and Treasury of BiH in the process of creating the budget for 2022.

"We remind you that the Ministry of Finance and Treasury of BiH alone creates the budget and submits it to the Council of Ministers of BiH, which adopts the draft budget and submits it to the constitutional proposer, the Presidency of BiH, which further forwards it to the parliamentary procedure. The final word in this entire process belongs to the Parliamentary Assembly of BiH, where the Law on the Budget of BiH Institutions and BiH's International Obligations for 2022 is adopted," stated the Ministry of Finance and Treasury. 

The adoption of the budget and the entire procedure should be completed by mid-May, considering that the General Elections will be called at the beginning of May, and 15 days from the date of the call, financial resources must be secured. BiH last adopted a budget for 2020 at the end of July that year, and the entire 2021 and three months of 2022 passed with decisions on temporary financing.