VIDOVIĆ: BUDGET WILL REMAIN ABSOLUTELY STABLE

BANJA LUKA, APRIL 5 /SRNA/ - Republika Srpska Finance Minister Zora Vidović said that the Republika Srpska budget will remain absolutely stable this year, fiscally and financially, and that all obligations will be paid on time and in full.

"We will continue to pay in full and within the prescribed deadlines all priorities in the budget this year, in accordance with the Budget System Law of Republika Srpska. These include pensions, salaries, war veterans' benefits, social transfers, and the regular payment of all obligations of Srpska as they become due," Vidović said.

At the thematic session of the Republika Srpska Government in Banja Luka regarding the current political and economic situation, she said that this year it is necessary to finance what is essential and leave aside what is not.

Vidović said that the export-to-import ratio in Republika Srpska currently stands at 70 percent.

"We consider this to be a very good percentage at this moment, because we have a very negative relationship with the EU market, as recession has set in there," Vidović added.

She said that until now, BiH and Republika Srpska have not had the opportunity to protect their production, which has always been a major issue, as contracts imposed by the EU were always signed, which was detrimental for Republika Srpska and BiH.

"The introduction of reciprocity, which is now happening in the USA, is very significant. For the first time, we are in a position to protect our domestic products," Vidović pointed out.

She said that the only issue is reaching an agreement on this at the level of BiH, and that if this is achieved, domestic production could realistically be protected, adding that this is a good opportunity.

Vidović says that on February 28, the total debt of Republika Srpska amounted to 35 percent, while the public debt stood at 30 percent, emphasizing that the debt has been reduced compared to the end of last year.

According to her, an increase in interest rates can be expected, but not significantly in the first half of the year in Republika Srpska.