Fiscal Council Holds Its 25th Session

The Fiscal Council held in Sarajevo today its 25th session, discussing the Fiscal Balance and Policies Global Framework for Bosnia and Herzegovina, with the participation of the IMF Mission representatives. 

Positions of Entities and the Ministry of Finance and Treasury of BIH on a levels of revenue allocation from the Single Treasury Account were not approximated in respect to last session of the fiscal Council, so that the Finance Ministers of RS, FBIH and BIH got assignment to take strong effort to approximate their position concerning the Fiscal Balance and Policies Global Framework and Budget for 2012-2014.

The session also dealt with ways of making additional savings at all level of government in order to create conditions for adoption of the Global Framework and Budget Framework on realistic bases, taking into consideration risks implied by cautious assessments of eventual GDP rise and indirect tax revenue increase in 2012.

Finance Ministers are also tasked to define their position in regard to continuation of cooperation with the IMF under the stand-by arrangement.

Today’s session began by World Bank representatives’ presentation of findings from the Regional Report on Economic Outlook for South-East Europe.

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