FBiH HOUSE OF REPRESENTATIVES SESSION On the agenda is a budget of KM 6,725,847,563

(SARAJevo), (Patria) - The first regular session of the House of Representatives of the FBiH Parliament has begun in Sarajevo, where the Draft Budget of FBiH for 2023 will be considered under an urgent procedure. 

The Draft Law on the Execution of the Budget of the Federation of Bosnia and Herzegovina for 2023 will also be considered under an urgent procedure.

Deputies will also consider today the Draft Decision on giving consent to the amendments to the Financial Plan of the Health Insurance and Reinsurance Institute of the Federation of BiH for 2022 (second amendments), amendments to the Financial Plan of the Federal Solidarity Fund for 2022 (Annex I.) (second amendments) and the Decision on the method of executing the Rebalanced Financial Plan of the Health Insurance and Reinsurance Institute of the Federation of BiH for 2022 (second amendments), the Draft Decision on giving consent to the Financial Plan of the Health Insurance and Reinsurance Institute of the Federation of BiH for 2023 and the Decision on the method of executing the Financial Plan of the Health Insurance and Reinsurance Institute of the Federation of BiH for 2023, as well as the Draft Decision on giving consent to the Financial Plan of the Federal Employment Agency for 2023 and the projection of the plan for 2024 and 2025 and the Decision on the execution of the Financial Plan of the Federal Employment Agency for 2023,
The Draft Financial Plan - Budget of FERK for 2023.

The Budget of the Federation of BiH for 2023 is proposed in the amount of KM 6,725,847,563.00 and is 20.1% higher than the Budget of the Federation of BiH for 2022, or KM 1,128.2 million higher. The structure of the proposed Budget of the Federation of BiH for 2023 is characterized by an increase in tax revenues, especially revenues from contributions for pension and disability insurance and revenues from indirect taxes. On the other hand, an increase in budget expenditures, interest, and expenses for the procurement of fixed assets is planned, with a decrease in capital transfers. Although the revised revenue projections are favorable and optimistic, with a decrease in receipts from financial assets and borrowing, a significant amount of funds is foreseen for debt repayment expenses compared to the previous fiscal year. 

Therefore, total tax revenues projected in the Budget of the Federation of BiH for 2023 amount to KM 4,843.6 million and are KM 864.8 million or 21.7% higher than in the previous year. This particularly applies to revenues collected from contributions for pension and disability insurance, which are planned in the amount of KM 2,683.1 million, and revenues from indirect taxes from the single account, which are planned in the total amount of KM 2,077.2 million. Non-tax revenues, current transfers, and grants are planned in the amount of KM 607.2 million, which is KM 114.6 million or 23.3% higher compared to the Budget of the Federation of BiH for 2022.