8th Special Session Completed: Budget enacted for 2020 in the amount of 3.425 billion KM
At the 8th Special Session the National Assembly of the Republic of Srpska the Budget of the Republic of Srpska for 2020 in the amount of KM 3.425 billion has been enacted and the Law on Budget Execution and the Program of Economic Reforms of the Republic of Srpska for the period 2020-2022.
The budget has been adopted with several amendments that have become an integral part of it.
At the 8th Special Session, the deputies also enacted the Law on Amendments to the Contribution Law, the Decision on the Amount of Guarantees that the Republic of Srpska may issue in 2020, the Decision on the Long-Term Debt of the Republic of Srpska in 2020, and the Decision on the Short-Term Borrowing of the Republic of Srpska by issue of Treasury Bills for 2020.
The Republic of Srpska's Economic Reform Program 2020-2022 has seven priorities, among which are increasing the competitiveness and productivity of the economy, with the aim of increasing salaries and a sustainable health system. Priorities include an efficient overall public sector, education system and labor market created to the needs of the economy, improving the Republic of Srpska's demographic position, research, development, innovation and the digital economy and European integration, regional and international cooperation.