Advisory Body Established to Stabilize Economy and Mitigate Pandemic Consequences

(Patria) - An advisory body for economic and business issues for the stabilization of the economy and mitigation of the consequences of the coronavirus pandemic in the Sarajevo Canton held its constituent meeting.

This body was recently formed by the KS Government. Its task is to prepare proposals for measures to mitigate the consequences of the coronavirus in the economy and submit them to the Government for adoption, to analyze the situation and existing programs aimed at supporting and developing the economy in the KS area, and to provide proposals for their improvement. It is also tasked with creating initiatives to improve economic flows in the Sarajevo Canton, monitoring, proposing, and assisting in the harmonization of economic support measures with the measures of competent institutions at other levels of government, and preparing and developing fiscal assessments to mitigate the consequences of the coronavirus in the economy.

It consists of 15 members. In addition to the KS Minister of Economy, Adnan Delić, its members include experts in economics and various branches of the economy, as well as representatives of certain associations and organizations.

As stated by Minister Delić, the Advisory Body, at its first working session, adopted its formation act and rules of procedure, and reviewed the negative consequences of the pandemic in all segments of the economy. Numerous problems and concrete ways to help the real sector were highlighted, from the most affected activities to ways of attracting new investments in sectors that are experiencing significant growth even during the pandemic.

"The Ministry has already initiated activities to help the economy, such as subsidizing traditional crafts, incentives for agriculture, and infrastructure development in business and industrial zones. Incentives for small businesses are also being updated, and this advisory body is being formed, which will play an important role in making future decisions and allocating budget funds for the economy," stated Minister Delić. He added that the members of the Advisory Body will not receive financial compensation for their work.

President Muamer Halilbašić stated that representatives of all key economic branches in the Canton participate in the work of this body.

"These are representatives of activities most affected by the pandemic, such as tourism, but also the IT sector, and export-oriented and knowledge-based services that are not experiencing a decline, then the manufacturing industry, small and medium-sized enterprises, crafts, etc. We have a serious task ahead of us, to, after identifying all the problems, propose appropriate measures to be implemented, both through support programs for entities affected by the pandemic, and through programs to support micro, small and medium-sized enterprises, and support for entrepreneurial infrastructure, then through exemption from parafiscal charges, etc. We will also work on developing the development strategy of the Sarajevo Canton," stated Halilbašić.