Deputy Chairman of the Council of Ministers of BIH and Minister of Finance and Treasury Dr Nikola Špirić met today with Head of Mission of the International Monetary Fund for BIH Costas Cristou.
The interlocutors agreed that the most pressing issue at present is the adoption of the 2012 Budget of BIH, and adoption of the Global Fiscal Framework for 2012-2014, in which a final decision will be on the Fiscal Council of BIH.
Minister Špirić underlined that a series of savings measures at the BIH level are provided, primarily through decrease of expanses for administration, but also through a part of capital investments for accommodation of BIH Institutions, for which considerable funds are allocated for rental.
Špirić stressed that funds will be provided for activities concerning the Census of Population and Households in BIH, as well as for funding local elections, and construction of border crossings with the EU, i.e. with the neighbouring Croatia.
Špirić and Christou agreed that the year 2012 is difficult one from the economic aspect, so all measures should be taken so that stability of neither BIH nor its citizens is threatened, for which one among solutions is a new arrangement with the IMF, because the existing one expires this July.
Širić underlined the dedication of himself, as well as of the Ministry of Finance and Treasury of BIH for implementation of reforms that are implicit and unpopular, in which all sides in BIH should take part. Špirić referred to issues and illogicality because of adoption of a law on retirement of members of the Armed forces, because while the retirement age is being lifted elsewhere in Europe, the retirement in BIH is enabled for people at 35 of age.
Christou added that one of goals of the existing IMF Stand-By Arrangement was to secure sustainability of pension system, rather than to introduce new legal solutions enabling premature retirement.
Špirić and Christou expressed their hope that the BIH Fiscal Council will open the door for soon adoption of the Draft Budget for 2012 at the Council of Ministers of BIH, so that other institutions will be able to do their part of work and fulfil an agreement for the BIH Budget to be adopted by the end of this month.
The meeting was attended by IMF Resident representative in BIH Milan Cuc.
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