“The European Union will continue to actively assist Bosnia and Herzegovina to recover from the devastating floods of May 2014”, Head of the EU Delegation to Bosnia and Herzegovina and EU Special Representative in B&H, Ambassador Peter Sorensen said in a meeting with Portuguese Secretary of State for European Affairs, Dr. Bruno Maçães, in Sarajevo today.
“Those in authority in B&H must work even harder now on promoting economic development, implementing economic reforms, creating a better climate for businesses, and fighting corruption. The recovery process will offer the opportunity for investment in reconstruction. There also needs to be a focus on flood prevention and joint action in the region to minimize future risk”, Ambassador Sorensen said.
During the meeting, the Ambassador and the Minister also discussed the economic and social situation in the country. The Ambassador outlined the six areas of economic reform defined at the Forum for Prosperity and Jobs, held in May this year. These areas include: to cut taxes on jobs from their current levels (close to 40 percent of total labour costs); to remove other specific barriers to hiring new workers; to slash the administrative barriers to investment; to undertake serious reforms in old enterprises and adopt a plan to improve corporate culture; to seriously address corruption by removing incentives and making administrative procedures more transparent; and to target social welfare at those most in need of help.