The Government of Republic of Srpska held today its 10th special session in East Sarajevo during which it approved the Proposal for the Budget Rebalance of the Republika Srpska for 2024. The framework of the Rebalance amounts to five billion 810 million BAM and is 75 million higher compared to the 2024 Budget framework.

Since in the course of 2024 there was a change in structure and amount of budget funds and budget expenditures, as well as the change in priorities financed from the budget funds, the preparation of the Budget Rebalance for 2024 commenced. 

Taken as a whole, the execution of budget revenues and inflows is slightly higher than the total amount planned by the Budget for 2024.

Total budget revenues and receipts for non-financial assets in 2024 amount to 4.773,0 billion, which represents an increase of 113.3 million or 2.4% compared to the funds planned by the Budget of the Republic of Srpska for 2024.

Tax revenues amount to BAM 4.402.6 billion, which is 153.4 million or 3.6% more compared to the tax revenues planned by the Budget of the Republic of Srpska for 2024.

Income from profit tax and income from indirect taxes will be realized in a significantly higher amount than the amount planned by the 2024 Budget, while profit tax revenues are higher by 49.6 million compared to the funds planned in the Budget for 2024, or by 12.4%.

Income from indirect taxes will be realized in the amount of 2.088,3 billion, which represents an increase of 80.1 million or 4% compared to the planned Budget.

The growth of these revenues is the result of the growth of net revenues and the application of a higher coefficient of distribution of revenues for the Republic of Srpska. However, during 2024, settlements of distribution of indirect taxes were not adopted or carried out.

Revenues based on contributions for pension and disability insurance will be realized in a slightly higher amount than the amount planned by the Budget of the Republic of Srpska for 2024.

They amount to 1.524,1 billion, which is an increase of 1.9% or 27.8 million compared to the funds planned in the Budget for 2024.

The financing planned in the Budget Rebalancing for 2024 is a total of BAM 993.7 million, which is 47.2 million lower compared to the financing planned in the Budget of the Republic of Srpska for 2024 which was BAM 1.040,9 billion.

On the expenditure side, subsidies that were planned in the amount of BAM 245 million were increased for 8.4 million. The most important funds within this group of expenditures are subsidies for promotion of agriculture and rural development in the amount of 180 million, subsidies for the costs of initial fiscalization in the amount of 17.1 million, subsidies on the account of incentives for increasing the wages of workers in the amount of 16.1 million and a subsidies to company "Railways of the Republic of Srpska" in the amount of BAM 10.8 million.

In the Budget Rebalancing Proposal of the Republic of Srpska for 2024, transfers in the amount of 396.4 million are planned and are reduced by 19.6 million compared to the Budget for 2024. The most significant allocations on this item are: transfer to the Health Insurance Fund in accordance with the Law on Health Insurance in the amount of 45.1 million, transfer to the Health Insurance Fund for special drug program in the amount of 67.2 million, transfer to the Health Insurance Fund insurance for  settlement of obligations towards dialysis centers in the amount of 9 million, transfer to Health Insurance Fund for the health care of combatants, invalids of war and civilian victims of war, in the amount of 11.4 million, transfer to the Health Insurance Fund for the health care of refugees , displaced persons and returnees in the amount of 0.1 million and a transfer to the Health Insurance Fund for in vitro fertilization in the amount of 3.5 million, and a transfer to the Health Insurance Fund for diagnostic procedures in the amount of 5 million KM.

In accordance with the Law on Social Protection, additional funds in the amount of 8.6 million are planned as a transfer to local self-government units and for social protection and personal disability allowances in the area of social welfare and protection.

For the Child Protection Fund, additional funds in the amount of 5 million are planned.

Also, within this group of expenditures, additional funds are planned for the Republika Srpska Solidarity Fund in the amount of 8.4 million.

In addition to the Budget Rebalance Proposal, the Government of the Republic of Srpska at today's session also established the Proposal of the Law on Amendments to the Law on Execution of the Budget of the Republic of Srpska, which prescribes the manner of executing the Budget, and the Rebalance for 2024.