State Budget Adopted in the Amount of 1.31 Billion KM

(Patria) - The House of Peoples of the Parliamentary Assembly of Bosnia and Herzegovina adopted today at its session the Bill on the Budget of Institutions of Bosnia and Herzegovina and International Obligations of BiH for 2023.

Eight delegates voted in favor, five against, and two abstained.

Although there were some objections, such as financing sports, not allocating funds for firefighting, and a number of others, the Minister of Finance, Zoran Tegeltija, stated that the budget cannot allocate funds for matters outside of their jurisdiction.

"We cannot plan something that is not within our competence. We cannot finance agriculture, sports; when it is legally specified, it will be reduced for someone else," said Tegeltija.

Total revenues, receipts, and financing of BiH institutions within the 2023 budget amount to 1,315,400,000 KM, which is an increase of 241.8 million KM compared to the budget of BiH institutions for 2022.

Revenues from indirect taxes are planned in the amount of 1,020,500,000.00 KM and have increased by about 155 million KM or 18 percent compared to last year's. Other sources of financing include non-tax revenues of BiH institutions in the amount of 152,118,000.00 KM, earmarked funds for financing BiH institutions in the amount of 692,000.00 KM, transferred surplus funds from the previous year in the amount of 141,100,000.00 KM, and receipts from the sale of fixed assets in the amount of 990,000.00 KM.

Servicing BiH's external debt amounts to 1,245,966,362.00 KM, which is an increase of 426,777,243.00 KM compared to the previous year's budget. Thus, total expenditures of BiH institutions and servicing of BiH's external debt in the 2023 budget amount to 2,561,366,362.00 KM, which is 668,577,243.00 KM higher than in 2022.