News in English     | 30.12.2019. 12:21 |

Čavara signs decision on proclamation of FBiH budget for 2020

FENA Vernera Jakupović

SARAJEVO, December 30 (FENA) – President of the Federation of Bosnia and Herzegovina Marinko Čavara signed a decision on proclamation of the FBiH 2020 budget, it was confirmed for FENA from Čavara's office.

Procedurally, the budget enters into force on the day following its publication in the Official Gazette.

The Federation of Bosnia and Herzegovina's 2020 budget was approved by both houses of the FBiH Parliament recently in the same text, which was a necessary condition for its operability in the next fiscal year.

In accordance with the budget calendar, the FBiH Government proposed the budget amounting to KM 4,954,392,401. Compared to 2019, the adopted budget is KM 2.25 billion or 83 percent higher.

The main reason for this increase is the integration of the FBiH Institute for Pension and Disability Insurance into the FBiH budget, whose financial plan for 2020 amounts to about KM 2.4 billion.

Revenues from the payment of pension and disability insurance contributions, as of January 1, will be an integral part of the FBiH budget and the payments of contributions on this basis will be made to the FBiH Single Treasury Account.  

(FENA) A. B.

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