News in English     | 22.09.2022. 16:50 |

Novalić: We have preserved financial stability, the key is to ensure conditions for further growth

FENA Press release, Photo:

NEUM, September 22 (FENA) - Prime Minister of the Federation of Bosnia and Herzegovina, Fadil Novalić, was the keynote speaker at the first congress intended for professionals in the field of finance in the public sector, which is being organized by the consulting company Revicon, and is being held in Neum. 

The three-day congress is an opportunity for the holders of reform processes and all parties involved in the implementation of the Public Finance Management Reform Strategy to exchange experiences and good practices with the aim of improving the key functions of the system in this area, announced the Press Service of the FBiH Government.

Addressing the participants, Prime Minister Novalić reminded that the public sector in BiH was a guarantor of stability in turbulent and uncertain times, even though it was often under attack from the public.

"How irreplaceable the role of the state and public finance is has been evidenced by the two most global emergency circumstances that have affected us in recent years. They are coronavirus pandemic and the inflation caused by the war in Ukraine, which also brought the two most critical crises in the field of food and energy. We solve them thanks to our public sector and public finances. In addition to our participation in solving the crisis, we owe all our gratitude to the exceptional tenacity of our entrepreneurs," Novalić pointed out.

He stated the gross social product as the most important parameter used to measure the success of a government's work and its ability to preserve the stability of the economy through public finances.

Underlining that there is no economy without social peace, Novalić reminded that the current FBiH Government has passed a number of laws in this direction.

He also stated that, thanks to the reforms under the current government, 60,000 new jobs were created, which, he pointed out, is seven times more than during the term of the previous government.

As an additional example, Novalić cited one of the most multiplicative factors affecting GDP growth, namely exports, which in 2015 amounted to 5.68 billion, while today it is 11.8 billion KM.

(FENA) A. B.

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