Consolidated Fiscal Surplus KM 286 Million

According to the consolidated fiscal data of the Central Bank of Bosnia and Herzegovina (CBBH), which include activities of budgets and off-budget funds at the level of BH, both BH Entities, Brčko District and all cantons, total fiscal surplus for the first six months of 2005, including budgets of governments and off-budget funds at the level of the entire BH is KM 286, 6 million.

The CBBH Governor Kemal Kozarić estimates that such managing of the fiscal policy was adequate in complicated economic situation in BH and it has made possible growth of economic activities with maintenance of macroeconomic stability. In situation with high current account deficit it is necessary to have fiscal spending balanced with all available revenues and to create reserves for solving the internal debt issue.

Current expenditures, together with the procurement of fixed and other non-financial assets amounted close to KM 2, 63 billion. These expenditures do not include expenditures related to the projects financed with direct foreign donations, which, in accordance with the implemented methodology are also recorded off-balance and they have no influence on deficit trends.

Total revenues were KM 2, 917 billion, which is by 9, 4% higher than for the same period in 2004, while total expenditures increased by 4, 3% compared to the same period of 2004 and they amounted to KM 2, 559 billion. KM 71, 3 million were spent for the purchase of fixed assets and non-financial assets, which is by 11, 1% more than in the same period of 2004.

Consolidated fiscal surplus was also recorded at the level of both entities. The budget of Government in BH Federation is recording increased surplus, while off-budget funds, with the exception of the unemployment insurance fund, are recording deficit. In Repulbika Srpska (RS), situation is similar when it comes to the RS Government, which conducted its business with surplus, while the situation with off-budget funds in RS is more favorable, since only Health Protection Fund in RS has recorded deficit, while the business balance of the remaining three funds was positive. Detailed data and tables are available at the CBBH web page (www.cbbh.ba/en/statistics.html).

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Coordinator
Zijada Kovač