The Government of the Republic of Srpska adopted today during its 137th session the Information Note on Foreign Trade Exchange in Republic of Srpska in the first six months of 2017.
Overall foreign trade exchange in Republic of Srpska in the period of January through June 2017 totaled BAM 3,951,379,000 and is by 16.26% higher than in the same period of 2016.
In the first six months of 2017, the Republic of Srpska made the following results compared to the same period in 2016:
• 16.26% increase of the foreign trade exchange,
• 21.40% export increase
• 12.89% import increase
• 4.94% increase of the export/import coverage ratio which was 70.44%,
• Decrease of the total deficit for BAM 23,191,000.00 which amounted 685,350,000.00
In the first six months of 2017, the Republic of Srpska had the following trade exchange with signatories of the CEFTA Agreement in comparison to the same period in 2016:
• 15.56% increase of foreign trade exchange,
• 8.28% increase of the overall import,
• 28.50% increase of the overall export,
• Increase of the export/import coverage ratio by 10.50 % which was 66.71 %,
• Foreign trade exchange deficit lower for BAM 31,237,000.00 which totals BAM 145,344,000.00.
Foreign trade exchange of Republic of Srpska with the EU members states in the first half of this year when compared to the same period in 2016 was higher by 14.59%. The import from the EU was higher by 12.44%, and export increased by 16.82%.
Export/import coverage ratio with the EU countries for the period January through June 2017 was 100.52% (3.77 % increase in relation to the same period of 2016).
Total surplus of the Republic of Srpska in the first six months of 2017 with regard to the EU member states was BAM 6,193,000.00 what is an increase of 40,363,000.00 in relation to the same period of 2016 when a deficit of BAM 34,170,000.00 was recorded.
It is very important to emphasize that total deficit in the first six months of 2017 was the lowest and the export/import coverage ratio highest in the last 11 years.
The presented figures primarily those that refer to the export increase (21.40%) and export/import coverage ratio which for the first time crossed 70% represent very encouraging indicators for the overall economy of the Republic of Srpska.
The Government approved the 2017-2020 Debt Management Strategy of the Republic of Srpska. The main objective of debt management is to provide financial means for funding of investment projects, refinancing of the debt and execution of the budget of the Republic of Srpska with minimal costs and risks and taking into account the economy development level and local securities market and legal restrictions of the borrowing.
Out of four proposed strategies which have been subject of consideration, the Government chose the Strategy of diversification of the sources of funding and instruments as a preferred one which would be implemented in the next four year term.
For the purpose of fulfilling the main goal of debt management, the Strategy goals would provide opportunities for continuous borrowing on the local financial market and exploration of possibilities of borrowing on foreign financial market with acceptable terms, minimal costs and acceptable risks in view of the development of domestic securities market.
The Government adopted the Consolidated Report on Execution of the Budget of the Republic of Srpska for the period of January through March 2017.
Budget revenues and income for non-financial assets in the first quarter of 2017 totaled BAM 591.4 million what is 103% execution since the plan was 574 million. .
Total consolidated expenditures and costs in the period from 1 January to 31 March 2017 amounted BAM 720.2 million.
Foreign debt has been regularly serviced in the first quarter of 2017. BAM 59.2 million has been allocated for that purpose.
Consolidation of the internal debt has continued and BAM 102.8 million from regular budget funds had been allocated for that purpose.