Bosnia Federation Jan-Nov Budget Shows Deficit of 44 Mln Euro

Revenue through November rose by 4.0% on the year to 1.237 billion marka, while spending increased by 20.8% to 1.323 billion marka, the cabinet said in a statement after a regular meeting held in Sarajevo.

The Federation's 2008 budget envisages a deficit of some 53.1 million marka, with revenue set at 1.781 billion marka and expenditure at 1.834 billion marka. The deficit was to be financed through the World Bank's Business Adjustment Credit programme and the government's escrow account.

For 2009, the Federation has adopted a balanced budget with both spending and revenue at 1.601 billion marka.

The Muslim-Croat Federation is one of the two autonomous regions forming post-war Bosnia, the other is the Serb Republic. The two parts have separate budgets. Bosnia also has central government and institutions which have their own budgets.

(1 euro = 1.95583 Bosnian marka)