Over 2 billion KM for loan repayment and servicing cumbersome administration

The House of Peoples of the Federal Parliament today approved the Draft Budget of the Federation of BiH for 2016, amounting to nearly 2.6 billion KM, writes the BiH news agency Patria.

The budget, proposed by Fadil Novalić's Government, was supported by 32 delegates, while 15 delegates voted against the budget allocation as proposed by the Government.

DF, SDP, Our Party, as well as several smaller opposition parties in the FBiH Parliament are not satisfied with the adopted Draft Budget for the upcoming year.
The opposition warns that it is incomprehensible that the Government plans to allocate only 6 percent of the total FBiH budget for the next year to development in this BiH entity, while the rest of the budget is planned to be spent on servicing debts and current obligations.

For example, the opposition is dissatisfied that, in times of severe economic crisis, the FBiH Government has increased the item related to financing political parties in the Budget for the next year.

Out of the total FBiH Budget for 2016, more than one billion KM will be spent on loan repayment, nearly one billion is needed for servicing current obligations within FBiH, while only a small portion will be directed towards FBiH development.
Also, the FBiH Government plans new borrowing in 2016 to cover the budget deficit, writes Patria.