Šain for NAP: It seems only pensioners understand the consequences of the Government's poor borrowing

Professor from the Faculty of Economics in Sarajevo, Željko Šain, warned Patria that authorities in BiH at all levels are excessively borrowing to cover budget deficits, but there is no real reaction from citizens.

He doesn't want to be rude, but, says Professor Šain, he is sure that citizens in BiH allow non-transparent borrowing because the majority of the population is financially illiterate.

- We only have some reaction from pensioners in the Federation, who told Prime Minister Novalić and the Government that they do not want the Pension Fund to borrow from commercial banks to meet the fund's needs - says Professor Šain.

- And, pensioners reacted only because there are a sufficient number of retired experts among them who understand what that means.

Professor Šain says that the most vital part of the population is either leaving the country or accepting the situation as it is in society, writes Patria.