European Bank for Reconstruction and Development (EBRD) Director for Bosnia and Herzegovina (BiH) Jan Brown said that nearly half a billion euros of credit intended for BiH is waiting until the excises issue is resolved.
Brown has specified that 221 million euros have been blocked because of the excises, plus 250 million that would be signed this year.
“Everything is stopped until the excises issue is resolved, i.e. the way you will return the credits,” Brown told to ‘Dnevni avaz’.
He emphasized that excise taxes represent the foundation without which it is impossible to build a highway.
He stressed that the focus of EBRD’s interest in BiH is investing and building the highways, and added that this financial institution shares the opinion of the International Monetary Fund and the European Commission that the fastest, easiest and most efficient way to build highways is to adopt additional excises.
“There are only two possible sources for debt repayments. The first one is excise, and the second one reducing public spending, “ Brown emphasized.
According to him, the excise taxes are the best solution, because in this way, everything is clear, transparent and collected money goes directly to the account of entity enterprises that responsible for highways.