Novalić: The presence of the IMF is of great importance

(Patria) - Prime Minister of the Federation of Bosnia and Herzegovina Fadil Novalić met today at the FBiH Government headquarters in Sarajevo with the Head of the International Monetary Fund (IMF) Mission for Bosnia and Herzegovina Martin Petri. They discussed the current economic situation, reform priorities, especially fiscal laws, as well as healthcare, economic conditions and the need to stabilize them by improving conditions for attracting investments, and the best ways for future cooperation.

The Federal Prime Minister stated that the past relations with the IMF have been beneficial in both technical and financial terms.

"Whatever joint program or arrangement we have with the IMF, we are better perceived in international waters. The message of your presence here is that the situation is more stable. We don't know the form yet, but there is no doubt that we need you and want the presence of the IMF in BiH," said Prime Minister Novalić.

Martin Petri emphasized that, overall, the economic situation is quite good, but that there are certain fiscal spaces and that it would be significant to use them in a quality manner. He stressed the great importance of stimulating public investments, and when it comes to healthcare, it would be good to devise measures that will lead to the consolidation of this sector.

"We will try to be as helpful as possible," said Petri.

He also said that the adoption of new laws on income tax and contributions as soon as possible is very important. The IMF's assistance in technical terms would be welcome in the future for the Federation of BiH in the areas of regulating parafiscal levies and distributing public revenues, and Petri said that this is an area where the IMF can certainly help.

Prime Minister Novalić explained that the priorities for the future are clearly defined through Socio-economic Reforms in BiH for the period 2019-2022, which include healthcare, economic growth, public enterprises, and the issue of youth. The interlocutors agreed that political uncertainty in BiH does not contribute at all to the growth of its economy and the development of its business sector.

The meeting was also attended by the IMF Resident Representative in BiH Andrew Jewell.