BiH Economy Requires Financial Support

The research of the Institute for Youth Development KULT, conducted as a part of the “BH Business Site” Initiative, demonstrated a plummet in allocations for economic incentives in 2014 in comparison to 2013. Namely, during the last year, 63,369,530 BAM less was allocated from the budget for economy in comparison to 2013. On this occasion, today in Sarajevo, a round table was held on the topic of “Budget Incentives and Perspective Areas of Economy in BiH”, organised by the Institute for Youth Development KULT, and attended by representatives of associations of economists, relevant governmental institutions and NGOs.   

Rusmir Pobri?, Project Manager of “BH Business Site” presented the results of the research on awarding incentives to economy. “Following the data that was presented to the public in June of this year, and that demonstrated a significant plummet of allocations for economy, a research was also conducted among the economists and representatives of the professions that demonstrated incongruency with the manner of performing allocations and strategic commitments of the state towards the perspective areas of the economy. Namely, the perspective areas of economy such as the industry of wood, the IT sector and tourism were deprived of budget incentives while, at the same time, the areas that have the greatest sums allocated for, do not record any significant results” – emphasized Rusmir Pobri? from the Institute for Youth Development KULT. 

BiH economy, from the aspect of allocating incentives, as was concluded today by the participants of the round table, primarily requires a strategic approach and investments in the perspective areas of the economy that would result in opening new workplaces. The participants agreed that long-term work on transparency in awarding incentives is required, with determining liability, as of those who use incentives, so of the institutions that award them. It was especially emphasized that it is necessary, beside transparency, to introduce an efficient promotion of public calls for awarding incentives – all for the purpose of creating a culture of applying for incentives and creating new generations of entrepreneurs.

BiH economy would develop better, the participants agreed, if, during the development and implementation of the programme for allocating incentives, an analysis of the situation would be performed, along with planning with a wider circle of actors and conducting an assessment of the effect of the allocated funds. 

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