Bosnia's Federation entity adopts 'Corona Law' to mitigate economic crisis

NEWS 04.05.2020 15:01
Source: N1

Bosnia's Bosniak-Croat Federation (FBiH) entity adopted the Draft Law on Mitigation of Negative Economic Consequences in this entity, in the first reading, with 31 delegates in the House of Peoples voting in favour of the bill, 16 were against it and one abstained, N1 reports.

As previously announced, 500 million Bosnian marks (some €250 million) have been earmarked for the economic stabilization fund, which will serve to enforce the Law of mitigating the negative economic consequences caused by the coronavirus pandemic.

This Law, known as the “Corona Law,” provides, among other things, for subsidizing contributions for compulsory insurance, suspension of calculation and payment of default interest on public revenues, interruption of all administrative, civil, non-contentious and enforcement procedures during disasters, as well as the establishment of the Guarantee Fund.

(€1 = BAM1.95)