Bevanda: Council of Ministers of BIH Fortifies Country’s Fiscal Stability

Chairman of the Council of Ministers of BIH Vjekoslav Bevanda received In Sarajevo analysts of the Moody’s Investors Service. 

Chairman Bevanda informed the Moody’s Investors Service analysers of the current economic and political situation in Bosnia and Herzegovina. He indicated that the Council of Ministers has in a short time managed to take a series of moves to unblock the Euro-Atlantic process of Bosnia and Herzegovina and strengthen fiscal stability of the country. Among important steps, he included the adoption of the Budgets for 2011 and 2012, adoption of the 2012-1014 Global Fiscal Framework for and 2013-2015 Fiscal Framework.

Chairman Bevanda said that the adopted Budget for the current year is a restrictive one directed to savings and curbing-up public spending, and at the same it contains all elements for smooth continuation of the Euro-Atlantic integrations of Bosnia and Herzegovina.

Chairman Bevanda briefed the Moody’s Investors Service analysers on the course of negotiations on a new arrangement with the IMF and new agreement with the World Bank. He expressed his expectations that the agreement with IMF will be finalised during the month of July, and that the negotiations with the World Bank will be also successfully completed, which would allow a release EUR 100 million grant of the European Commission for Bosnia and Herzegovina.

Chairman Bevanda made remark on positive outcomes of a meeting in Brussels, were BIH politicians together with their European colleagues defined a Road Map for accession of BIH to the European Union.  (end)