Bosnian Federation on verge of bankruptcy

The Bosnia-Herzegovina Federation is on the brink of bankruptcy, with only EUR 221 at its disposal. The Bosnian federal government is down to the bare bones after, in the face of public pressure, it was forced to make various payments for welfare benefits that were not factored into the budget, Slovenian media report. Bosnian Federation on verge of bankruptcy Finance Minister Vjekoslav Bevanda did not want to comment on the situation, but he has notified members of Bosnia-Herzegovina’s federal government and Prime Minister Nedzad Brankovic. Bevanda had earlier warned about the unrealistic promises of support made to the socially underprivileged, particularly Brankovic’s promises to Bosnian war veterans, on the basis of which laws were adopted and payments increased that were not projected in the budget. Moreover, Slovenian media have learned from Sarajevo daily Dnevni Avaz that several days ago, the Bosnia-Herzegovina government approved around EUR 85,000 for the purchase of a luxury boat intended for use at the government’s resort in Trpanj. Even though the government is facing bankruptcy, protests by former members of the Bosnia-Herzegovina Army calling for three-month unemployment benefit to be paid off, are still planned to go ahead. Trade unions have also scheduled protests for next Wednesday, when several thousand workers are expected to gather to express their discontent with the way privatization is going, and the “destruction of the companies sold thus far.”

Bosnian Federation on verge of bankruptcy

Finance Minister Vjekoslav Bevanda did not want to comment on the situation, but he has notified members of Bosnia-Herzegovina’s federal government and Prime Minister Nedžad Branković.

Bevanda had earlier warned about the unrealistic promises of support made to the socially underprivileged, particularly Branković’s promises to Bosnian war veterans, on the basis of which laws were adopted and payments increased that were not projected in the budget.

Moreover, Slovenian media have learned from Sarajevo daily Dnevni Avaz that several days ago, the Bosnia-Herzegovina government approved around EUR 85,000 for the purchase of a luxury boat intended for use at the government’s resort in Trpanj.

Even though the government is facing bankruptcy, protests by former members of the Bosnia-Herzegovina Army calling for three-month unemployment benefit to be paid off, are still planned to go ahead.

Trade unions have also scheduled protests for next Wednesday, when several thousand workers are expected to gather to express their discontent with the way privatization is going, and the “destruction of the companies sold thus far.”