Bosnia Leaders Agree on Economic Reform

Click here: BIRN – Bosnia Leaders Agree on Economic Reform

Bosnia and Herzegovina’s leading officials have signed a document which stipulates that urgent economic reforms cannot wait for the resolution of political disputes.The document, known as “Our platform for action”, was signed on Tuesday by the prime ministers of Bosnia and its two autonomous entities as well as by the mayor of Brcko district which enjoys a special self-governing status.

…The platform commits Bosnian leaders to create a better business environment by removing administrative barriers, improving the efficiency of the financial sector and integrating banking sector supervision and the bonds market.It also encourages providing incentives for the opening of markets and for the unhindered flow of goods, services and capital.The document envisages negotiations to reach agreement on an appropriate formula for the distribution of revenues and on improving the fiscal policies of the various levels of government.

These goals are to be achieved, in part, through the introduction of greater economies and efficiencies in the social welfare budget to reduce public spending.The signatories pledged to promote other reforms as well to ensure Bosnia’s sustainable development.These include the promotion of greater competition and of a dynamic agricultural and food industry sector, support for faster economic growth, active participation in drafting a mid-term development strategy for 2008-13 and determining further priorities for economic development.Lajcak told reporters that the platform now needed to get the attention it deserves in Bosnia’s parliament.

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