At the session of the Fiscal Council of B&H, chaired by the Chairman of the Council of Ministers and Chairman of the Fiscal Council Denis Zvizdic, were discussed elements of Letter of Intent on the new stand-by arrangement of B&H with the IMF. IMF delegation led by Mission Chief for B&H Nadeem Ilahi attended the session, as well as the Resident Representative of the IMF Francisco Parodi.
Ilahi said that the IMF is open for negotiations with B&H and emphasized that a precondition for further negotiations is the draft of budget of B&H and the Entities for 2016, as announced from the Council of Ministers of B&H.
Minister of Finance and Treasury of B&H Vjekoslav Bevanda informed representatives of the IMF that the draft law on the budget of B&H for 2016 is prepared, and a copy of the document was given to representatives of the IMF.
Prime Minister of FB&H Fadil Novalic and Minister of Finance Jelka Milicevic emphasized that FB&H is focused on the support to entrepreneurs and economic development and all the measures that are proposed in the Letter of Intent should be taken into account in. They also added that through proposed measures is necessary to encourage reinvestments in order to increase the consumption and strengthen the market competitiveness of business subjects.