Council of Ministers Committed to Economic Development of BIH

Chairman of the Council of Ministers of BIH Dr Denis Zvizdić, Minister of Finance and Treasury Vjekoslav Bevnada and Minister of Foreign Trade and Economic Relations Mirko Šarović talked today with a delegation of the International Monetary Fund, led by Head of Mission Ron van Rooden. 

The IMF Mission is in visit to Bosnia and Herzegovina, and holds discussions with BIH authorities within consultations under Section IV, which includes structural reforms, policies targeting improvement of macro-economic stability, growth and employment, business environment and labour market, as well as discussions on possible modalities of a new arrangement with the IMF.

Head of Mission Ron van Rooden said it is necessary to address fiscal consolidation in order to secure debt downward trend, along with revenues increase, all in order to have a higher quality expenditure control. He said that cross-government commitment and improved is notable, which is a positive and encouraging move. He said that any new programme with the IMF requires a lot of prior measures to prove a commitment for business ambience betterment.

The meeting discussed reforms in taxation sector, customs regulations, financial sector, and progress in public administration reform, which is the interest of all level authorities. .

Chairman Zvizdić informed the IMF delegation that the Council of Ministers has prepared a future economic reforms agenda, which addresses practical issues, and emphasised the start of credible reforms implementation should be seen as a prior condition. He said that the future period will witness an unreserved commitment to economic development of Bosnia and Herzegovina, increase of financial discipline, financial stabilisation, job generation, new investments and all other contributions to promote economic development of BIH. He emphasised that this Council of Ministers has capacities to fulfil EU agenda and set on the road of reforms.

The meeting was attended by Ruben Atoyan, IMF Resident Representative and Ricardo Llaudes, Chief Economist of IMF Mission in BIH.

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