Wednesday, May 14, 2008

FBiH budget faces liquidity crisis.

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FBiH budget faces liquidity crisis. The Federation budget has insufficient liquidity to settle the current obligations, entity finance minister Vjekoslav Bevanda warned on Tuesday (May 13). The official noted that after the latest payments for war veterans there were only KM 15mn in the entity coffers, while the required resources for payment of salaries to budget beneficiaries and for some other budgetary items amounted to KM 100mn. As a result, the payments to the civil servants will be delayed, Bevanda stated. The entity finance minister pointed out that all the ministers should change their expenditure priorities by Friday, but noted that a budget rebalance would still be needed. Bevanda warned several weeks ago that the entity budget could face bankruptcy by September due to the excessive spending on social benefits for war veterans and invalids.

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