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SARAJEVO, November 28 (FENA) - Government of the Federation of Bosnia and Herzegovina has adopted the FBiH Budget Proposal for 2020 at today's session in Sarajevo, with a fully balanced revenue and expenditure side and submitted it to the FBiH Parliament, under urgent procedure.
The Proposed Law on the execution of the FBiH Budget for 2020 was also addressed to the parliamentary procedure in urgent procedure, which stipulates that, immediately after servicing of external and internal debt, the payment of pensions is a priority.
The Federation of BiH's budget for 2020 has been prepared in accordance with the budget calendar and amounts to KM 4,954,392,401. The reason for the almost double increase in the amount of the Budget is in the integration of the FBiH Institute for Pension and Disability Insurance, with the status of budget beneficiary.
The Pension and Disability Insurance Act of 2018 provides for the institution's inclusion in the Budget in 2020, with the aim of facilitating payments of pensions through the Single Treasury Account, and achieving greater transparency in the use of public funds and stability of pension payments.
The Federation of BiH's budget for 2020, with total revenues and receipts, costs and expenses, increased by KM 2,252.5 million, or 83 percent, compared to 2019.
The Bill on Amendments to the Law on Budgets in the Federation of BiH was also adopted. In addition, the amendments to this law enable the normal functioning of the City of Mostar. Specifically, it is stipulated that the Mostar City Budget for 2020 and the Decision on Enforcement will be adopted and implemented by the Mayor, with the consent of the Mayor of Finance of the City of Mostar.
All these laws have been submitted to the FBiH Parliament under an urgent procedure, the Press Office of the Government of the FBiH announced.
(FENA) A. B.
