Milićević: FBiH with accumulated surplus for the first time since its establishment

Milićević: FBiH with accumulated surplus for the first time since its establishment

SARAJEVO, May 15 (FENA) – The policy of fiscal sustainability and financial stability, which has been advocated and implemented by the FBiH Government since the beginning of its term in office, has resulted in an accumulated surplus for the first time since the establishment of the Federation of BiH, said Deputy Prime Minister and Minister of Finance of FBiH Jelka Milićević today.

Milićević noted that, according to the last consolidated report, which includes the FBiH budget, 10 cantonal budgets, 80 municipal budgets and six extra-budgetary funds, for the first time, FBiH has accumulated surplus as of 31 January 2018.

“We are proud to say that total tax revenues also had a constant tendency of growth, as well as revenues from extra-budgetary funds, which, in a certain way, resulted in compliance with the provisions and rules of the law on financial operations and internal payment transactions. The budgets are an example of the liquidity of the Federation of BiH,” Milićević pointed out.

Regarding the revision of this year’s budget, Minister Milićević says that it will be necessary, among other things because of the accumulated surplus that should be allocated to infrastructure projects.

“We know that there will be a need for revision of the budget regarding the adoption of the law on the veteran population and that there will be necessary to do corrections regarding the execution of court verdicts, which was announced by the government.

At this moment, for technical reasons, it is not possible to approve the revision, because there are certain obstacles in connection to the obligations for payment of court judgments in the first quarter of this year. The government and trade unions have to agree on this issue,” concludes FBiH Finance Minister, Jelka Milićević.