Why Ministry Deposits are not diverted to Saving the Domestic Economy?

April 17, 2020 5:15 PM

 

Vijesti.ba news portal has announced that the Bosnian Ministry of Finance and Treasury launched a tender for the depositing of funds in a single account at the beginning of February this year, which are not needed for budgetary purposes at this time.

The portal asked the Ministry of Finance of Bosnia and Herzegovina what is the amount of deposits and why they are not diverted to saving the domestic economy instead of being hold in the accounts of commercial banks.

In the afternoon, the Ministry sent an answer, saying that the short-term funds of the budget of the Institutions of BiH, which are not currently needed for budgetary purposes, are a deposit that was placed with commercial banks in accordance with the Law on Financing of the Institutions of BiH.

“The amount of these funds is 80 million BAM. This appropriation is intended to finance the institutions of BiH and is the budget of the BiH Institutions.”

Bosnian Ministry of Finance and Treasury prepares the Budget of BiH Institutions and International Obligations for 2020 and after the adoption of the Budget by the BiH Parliamentary Assembly, it will be known whether the Budget funds will be activated to assist the economy.

 

 

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