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Minister of Finance stated that the Budget Rebalance is conditioned by capital investment and pension growth


Minister of Finance of the Republic of Srpska Zora Vidović emphasized, in an interview with News Agency „SRNA" that the surplus revenues in planned Budget, enable capital investments, pension increases and salary for individual budget users, which conditioned to Budget Rebalance. Budget Rebalance aim is to enable to settle obligations following the regulations and the dynamic of their maturity.

The total budget funds, said Vidovic, planned by the revised budget of the Republic of Srpska for this year amounting to billion BAM 3.316, which represents an increase of million BAM 60.6, which is 1.9 percent more than the funds planned for the 2019 budget.

She added that the Pension insurance contributions by million BAM 19, gambling fees by million BAM 10.4, profit tax by million BAM 9.8 and taxes on income for BAM million 7.2.most significant increases in revenues, compared to the budget plan.

On the expenditure side of the Rebalance, there was an increase in the level of personal income, which was increased by million BAM 7.3 with the planned budget, primarily due to the increase of fees and salaries for certain categories of employees in the police and judiciary.

Speaking about the preparation of the Republic of Srpska Budget for 2020, she emphasized that the Ministry of Finance, in cooperation with other ministries in the Government of Srpska, is working on defining key projections that will be the basis for the budget construction.

She stated that on the expenditure side of the budget in 2020, investments will have the highest priority and emphasized that the Government's commitment is to continue with the reform activities and key policies, followed by investment processes, and widespread public support for these activities.

- In the last period, we have carried out many activities aimed at relieving work, suppressing the shadow economy and other activities to increase the average salary and number of employees, and we are continuing with plans for the next year - emphasized Vidovic.

In addition to measures to curb the informal economy, she added, the implementation of the Gambling Act, which had beneficial effects in the first months of its implementation, could contribute to this.

Talking about the possibility of salary increase, Vidović pointed out that the Government is committed to strong institutions and economy, with well-paid workers, and all wages and pensions increases on realistic funding bases.

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