Bosnia Central Govt OKs Draft of 2010 Balanced Budget – Media

The draft budget projects 729 million marka in revenue from indirect taxes next year, 40 million marka less than initially planned, news daily Nezavisne Novine (www.nezavisne.com) reported late on Thursday.

Credits and revenue from direct taxes are expected to redress the balance, Nezavisne quoted Prime Minister Nikola Spiric as saying.

The government will now forward the draft budget to the presidency for approval.

The central government budget comprises the budgets of Bosnia's central institutions and payments servicing Bosnia’s foreign debt. Under the law, the government budget draft has to be approved by the country’s presidency and then adopted by parliament to take effect.

Post-war Bosnia consists of a Muslim-Croat Federation and a Serb Republic, each of them with its own government, parliament and fiscal system. Bosnia also has weaker central government and parliament.

(1 euro = 1.95583 Bosnian marka)