The House of Peoples of the Parliament of Bosnia's Federation (FBiH) entity approved the Draft Budget for 2021 in the amount of 5,481,251,899 Bosnian marks (some €2.7 billion) by a majority vote at Monday's session. The 2021 budget is 27.7 million Bosnian marks (some €13.8 million) lower than last year's.

The proposed budget was approved by the entity House of Representatives during the session held just before the New Year, which was necessary for the entry into force of the most important financial act of the FBiH.

Explaining the Draft Budget in 2020, FBiH Prime Minister Fadil Novalic then first presented the economic consequences of the global Covid-19 pandemic which were felt in this entity as well, adding that 2021 will be the year of economic remediation.

This also applies to GDP and jobs, the number of which has decreased since the beginning of the pandemic, and later increased thanks to the ‘Corona Law’ and other measures taken, but is still lower than at the beginning of the crisis.

(€1 = 1.96 Bosnian marks)