SARAJEVO, Bosnia (October 9,2008) - The government of The FBIH entity will revise down its 2008 budget of 1.76 billion Bosnian Marks (1.23 billion US Dollars) after increased revenues allowed for cutting, the FBIH Finance Minister Vjekoslav Bevanda said yesterday.
"The government will revise down the 2008 budget, the cuts will range from 200-400 million Bosnian Marks (100-200 million Euros)," Minister Bevanda said.
"The revised budget will represent a basis for the 2009 budget draft.Our macroeconomic projections showed that such a revised and reduced budget can be increased by only 3.6 percent next year," he added.
Bevanda has been long warning that the budget was overstretched by unrealistic welfare payments promised under a pre-election law in 2006. Now he said the revision was made possible thanks to increased revenues from indirect taxation.
The 2008 budget was mostly social, with more than 700 million Bosnian Marks or 40 percent allocated for social categories, such as war veterans, invalids and civilian victims.
The fiscal system has become threatened by payments after the number of beneficiaries had risen to around 85,000 earlier this year. After inspections, their number fell to some 65,000.
Bevanda said he expected the FBIH entity to record fiscal deficit in 2008 but failed to provide details.
Showing posts with label fbih. Show all posts
Showing posts with label fbih. Show all posts
Thursday, October 9, 2008
Monday, September 8, 2008
IRANIAN FIRM INTERESTED IN BOSNIAN ENERGY SECTOR
SARAJEVO, Bosnia (September 8,2008) - The representatives of the Farab Company, the leading Iranian company for the construction of the hydro-electric power stations, in their yesterday's visit to the Bosnian capital Sarajevo, expressed their interest in constructing the facilities for the production of electricity in Bosnia.
In the course of the yesterday's meeting with the FBIH Entity Prime Minister Nedzad Brankovic and Vahid Heco, the FBIH Entity Minister of Energy, Mining, and Industry, the representatives of this company said that the Iranian Bank for Export Development had already provided money for the investment in Bosnia, and that the Farab Company was prepared to start the work at any time. The FBIH entity government representatives said that the Iranians offered two models for the construction of the electric power facilities.
The first model would include the crediting by the Iranian Bank for Export Development; in this case, Bosnia would get a loan under favourable terms, and Farab, in cooperation with the domestic companies, would carry out the work. The second model of financing would include the direct investment of the Farab Company, and the Iranian company would hand over the constructed facility to the FBIH entity for use, after a certain period of time.
Heco stressed that the electrical energy sector in Bosnia needed companies that have references such as Farab's, particularly keeping in mind their knowledge and technologies in this sphere. He said that a feasibility study was in the drafting procedure for the construction of around 20 free-flowing hydro- electric power plants on the Bosna River, with the power between 20 and 40 megawatts, and that the Farab Company could participate in those projects.
Brankovic said that the FBIH entity government wanted to start big projects, particularly in the electrical energy sector. He added that several decisions were currently in the parliamentary procedure concerning the construction of the electrical energy facilities and that the government was waiting for the green light from the Parliament.
.
In the course of the yesterday's meeting with the FBIH Entity Prime Minister Nedzad Brankovic and Vahid Heco, the FBIH Entity Minister of Energy, Mining, and Industry, the representatives of this company said that the Iranian Bank for Export Development had already provided money for the investment in Bosnia, and that the Farab Company was prepared to start the work at any time. The FBIH entity government representatives said that the Iranians offered two models for the construction of the electric power facilities.
The first model would include the crediting by the Iranian Bank for Export Development; in this case, Bosnia would get a loan under favourable terms, and Farab, in cooperation with the domestic companies, would carry out the work. The second model of financing would include the direct investment of the Farab Company, and the Iranian company would hand over the constructed facility to the FBIH entity for use, after a certain period of time.
Heco stressed that the electrical energy sector in Bosnia needed companies that have references such as Farab's, particularly keeping in mind their knowledge and technologies in this sphere. He said that a feasibility study was in the drafting procedure for the construction of around 20 free-flowing hydro- electric power plants on the Bosna River, with the power between 20 and 40 megawatts, and that the Farab Company could participate in those projects.
Brankovic said that the FBIH entity government wanted to start big projects, particularly in the electrical energy sector. He added that several decisions were currently in the parliamentary procedure concerning the construction of the electrical energy facilities and that the government was waiting for the green light from the Parliament.
.
Subscribe to:
Posts (Atom)
