PM Novalic: There will be no Termination of the Arrangement with the IMF

July 1, 2017 10:00 AM

novalicThe Prime Minister of the FBiH, Fadil Novalic, said that the arrangement with the International Monetary Fund/IMF will not be terminated for sure, although there are certain allegations that it might be revised and changed.

“The Government of the FBiH, and I believe the Government of the RS as well, are committed to continuing the engagement of IMF in BiH. The IMF is a very important partner in the already started process of reforms, and we really appreciate its support. This is not referring just to the money, but its advisory assistance that is necessary in order to continue with already started economic reforms,” stated Novalic.

He also noted that the increase in excise taxes was something that was supposed to be adopted routinely, but certain individuals, unfortunately, decided to earn some cheap political points and present themselves as they are working in the interest of the citizens.

“The parties and individuals who are lobbying against the increase in excise taxes are using only populism. Excises are not necessary, as they claim, for patching holes in the budget, paying salaries to the administration and saving the entities from bankruptcy. The only aim of these excise duties is to start some large infrastructure projects,” stated PM Novalic.

He also said that it is not true that entities depend on the IMF, but the arrangement with that financial institution represents an additional short-term assistance for maintaining fiscal stability.

Novalic stated that it is important to fulfill the conditions of the IMF at the level of BiH, which are related to stopping further growth of administration, as well as reducing the difference between salaries in the administration and in the real sector.

Novalic also added that he is satisfied with the cooperation of the entities because he and the Prime Minister of the RS Zeljka Cvijanovic are aware that economy and development are crucial for the stability and prosperity of every citizen of BiH.

“We are constantly communicating, we are working together on the compliance of legal solutions and we support each other in the fulfillment of obligations from the Reform Agenda,” noted Novalic.

He added that the  Coordination Mechanism is not fully operational yet, and he expressed the hope that this will take place very soon as well.

(Source: fokus.ba)

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