EXPENSIVE LOANS HINDER BOSNIAN ECONOMY

BANJA LUKA, Bosnia (April 16,2008) - High interest rates that commercial banks in Bosnia charge to entrepreneurs and the customs policy not protecting domestic industry are only some of the many obstacles the Bosnian economy is dealing with daily, it was heard during a roundtable discussion in the northern Bosnian city of Banja Luka, about furthering the business environment.

The roundtable was called by the Bosnian Business Transparency Promotion Association (UPTE) and the Pro Educa business education centre.

“An absurd situation in which importers are forced to pay import tariffs and VAT (Value Added Tax) on a lot of material not available locally continues, while other countries of the world which implement good business policies look for ways to stimulate equipment recovery, imports and new investments”, one of the participants pointed out.
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