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Sarajevo Times > Blog > BUSINESS > Government will be committed to the Strengthening of economic Circumstances
BUSINESS

Government will be committed to the Strengthening of economic Circumstances

Published May 13, 2016
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pakistani-textile-industry3Submitting a report on the last year’s work of the Government of FBiH to the House of Peoples of the Parliament of FbiH, Prime Minister of FbiH Fadil Novalić said that this Government will still be committed to the strengthening of economic circumstances in BiH and the creating of better social environment, which the Government did in the reporting period.

In the past year, the Government was working on laws from the Reform Agenda and it will stay committed to its implementation, focusing exclusively on the action plan.

In 2015, for the first time after 2008, the number of unemployed in FBiH decreased and the trend continues. The export increased, and although the import increased as well, its growth was still lower that the growth of export. The accumulated budget deficit also decreased and the index of industrial production and the GDP increased by 29 percent, Novalić said.

Of the laws that the Government worked on last year, Novalić mentioned numerous ones, including the Labor Law.

„The Labor Law was passed and the General Collective Contract was adopted. We continue negotiating regarding the branch collective contracts and we strive to create a new climate when it comes to legal and labor environment,“ Novalić said.

The Prime Minister also mentioned the laws on profit taxes, economic societies, market of securities, voluntary pension funds, as well as laws on contributions, direct foreign investments, budgets, and numerous other acts and regulations. Among these are also regulations which lead to greater fiscal responsibility, as well as numerous regulations which may sound „benign“ at first, but they yield exceptional results in economy.

In the field of improving social circumstances, one of the first measures of this Government was the limitation of public spending and moratorium on new recruitment in public sector. This was effective, after a continuous growth of spending in public administration.

Last year, the Government also reached two difficult, but very significant agreements, with pensioners and miners. Its endeavors, along with other conditions on the market, contributed to the reduction in gas price as much as three times in one year.

Since March 31 until December 31, 2015, the Government adopted 18 draft laws and 41 proposals of laws at 58 sessions, 23 of which were urgent.

(Source: klix.ba)

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TAGGED:#economy#GDP#industry#plansBUSINESS
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