FBiH Government adopts Draft Budget for 2024 worth almost 7.5 billion KM

(Patria) - The FBiH Government, at today's session in Sarajevo, upon the proposal of the Federal Ministry of Finance, adopted the Draft Budget of FBiH for 2024 in the amount of 7,474,800,209 KM, which is being sent to the FBiH Parliament under an urgent procedure.

This year's budget of the Federation of BiH is the largest to date and has been increased by more than half a billion KM compared to the Budget of the Federation of BiH for 2023.

As stated in the explanation for the urgent procedure, the orientation of the FBiH Government's activities is aimed at maintaining the long-term stability and liquidity of the Budget of the Federation of BiH, which will be used in the coming period, among other things, to foster the domestic economy, the social and health sectors, and to continue support for agriculture, lower levels of government, and strengthening citizens' standards, with a special focus on the most vulnerable categories of the population and youth.

As explained by the Federal Ministry of Finance, this draft budget, among other things, provides for an increase in funds for pension payments by 317.17 million KM.

Benefits for veteran categories on various grounds have been increased by 9.6 million KM, as well as benefits for non-combat disabled persons, civilian war victims, and projects intended for these categories, so the total increase in allocations for these categories amounts to 57.7 million KM.

The draft budget also includes a new transfer from the Federal Ministry of Labour and Social Policy, which relates to a one-time cash benefit for newborns in the amount of 16 million KM (1,000 KM for each newborn child in the Federation of BiH).

Transfers to agriculture have been increased by 11 million KM compared to last year's budget, transfers for culture, primarily capital investments, are planned with an increase of 12.2 million KM (for sports infrastructure, cultural institutions, and cultural and architectural heritage).

Total transfers allocated to the Federal Ministry of Energy, Mining and Industry are higher by 13.2 million KM. Current transfers from the Federal Ministry of Development, Entrepreneurship and Crafts show a growth of 18.4 million KM.

Similarly, funds allocated to the Solidarity Fund have been increased and total 50 million KM.

The FBiH Government today also adopted the Draft Law on the Execution of the FBiH Budget for 2024, which is being sent to the parliamentary procedure under an urgent procedure.

At today's session, the FBiH Government accepted by conclusion the Financial Plan of the Health Insurance Fund of FBiH for 2024 and the Decision on the method of executing the Financial Plan of this fund for 2024.

It also adopted the Draft Decision on giving consent to the Financial Plan and the Decisions on the method of executing the Financial Plan of this fund, which it sent to the FBiH Parliament under an urgent procedure.

Today's session was chaired, by authorization of the Prime Minister of the Federation of BiH, by the Deputy Prime Minister of FBiH and Federal Minister of Development, Entrepreneurship and Crafts, Vojin Mijatović.