Novalić: Federation Budget for 2016 cannot have a development component

The Federation Budget for 2016 cannot have a development component, said Prime Minister Fadil Novalić while presenting the Draft Budget for the next year before the FBiH Parliament on Tuesday evening.

The same situation will be in 2017. Relief can be expected in 2018.

- Unless we take on additional debt – said Novalić, writes the Bosnian news agency Patria.

Novalić justifies the situation with the FBiH budget of 2.5 billion KM, of which more than one billion KM must go to debt repayment next year, and close to a billion will be needed for current obligations. The Federation of BiH will have to pay banks 123 million KM in interest alone next year. Practically, not much money remains for investment in development.

Novalić claims that the economy of the Federation of BiH, despite all the burdens, can achieve good progress, writes NAP.