Minister Špirić Discusses Budget Adoption with IMF Delegation



Deputy Chairman of the Council of Ministers and Minister of Finance and Treasury of BIH dr Nikola Špirić received a Delegation of the International Monetary Fund, led by Chief of Mission Ron van Rooden.

The IMF representatives commended Minister Špirirć for the successful realisation of the Stand-By Arrangement to-date, based on which the fifth tranche of the IMF Loan to BIH was approved.

The meeting emphasised that indirect tax collection controls need to be stepped-up, and overall transparency of the sector need to be improved, as recommended by the IMF technical mission.

In regard to that, Minister Špirić stressed that amendments of laws, pertaining to tax reforms and tax payers training, are currently in the parliamentarian procedure.

The meeting emphasised a need for a timely adoption of the general government Budget for year 2014, as it is one among conditions within the firth review by the current IMF Mission.

Minister Špirić said that the 2014 Budget of BIH Institutions, will be, as it was in the past two years, accompanied by a package of measures intended to reduce the level of public spending and limit employment in the BIH Institutions.

The IMF representatives noted the importance of adoption of the BIH Public Procurement Law, which is currently underway, and added that in the election 2014 year, it would be necessary to maintain the fiscal discipline.

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