Global Fiscal Framework for the Period 2020-2022 adopted

December 31, 2019 12:00 PM

 

 

The Global Fiscal Framework for the period 2020-2022 was adopted at the constituent session of the Fiscal Council of Bosnia and Herzegovina in Sarajevo, according to Fena news agency.

“What is certainly the most important topic at the end of each year is the adoption of the Global Fiscal Framework for the following year. We have, on the proposal of the Fiscal Council Advisory Group which has prepared the Global Fiscal Framework for 2020-2022, adopted the Global Fiscal Framework,” BiH Council of Ministers Chairman Zoran Tegeltija told reporters after the session.

According to him, the most important topic that is being considered when adopting the Global Fiscal Framework is the question of the amount of funds that belong to the institutions of Bosnia and Herzegovina from the Single Account of the Indirect Taxation Authority, “because the entities receive as many funds as they can, they can receive more and less than what is defined “.

“There were two proposals of the Advisory Group. The first one was that from the Single Account of the Management, the budget of BiH amounts to 750 or 780 million BAM. Yesterday, it was definitely agreed with the Prime Ministers of both entities that from the Single Account this year, 780 million BAM will be allocated for the BiH budget,” Tegeltija said.

He added that “after seven years, it was the first time that the framework for the budget of state institutions had been adjusted, so that the total budget framework, instead of 780 million BAM, would amount to 996 million BAM.”

“After the adoption of the Global Fiscal Framework, the assumptions were made that we could definitely finish BiH’s budget for 2020,” Tegeltija pointed out.

 

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