SARAJEVO Dec 6 Bosnia's parliament approved the
2013 budget late on Thursday to meet a Friday deadine set by the
International Monetary Fund (IMF) for the release of new funds
by the year-end.
Spending of 1.74 billion Bosnian marka ($1.16
billion)includes almost 790 million marka for servicing foreign
debt, double this year's total.
Bosnia has a 405-million-euro ($529.25 million) standby
arrangement with the IMF, and its next tranche of 60 million
euros was conditional on the country's central and regional
parliaments adopting 2013 budgets.
Bosnia has already drawn down some 60 million euros under
The country's two autonomous regions, the Serb Republic and
the Bosniak-Croat Federation, passed their respective budgets on
The IMF wants the consolidated budget deficit, including
regional and central budgets, to be no more than 2.5 percent of
gross domestic product. But it was not immediately clear if that
target would be met.
The IMF sees Bosnia's economy contracting 0.7 percent this
year and growing 0.5 percent in 2013.