Improving Public Finance Statistics for Greater Transparency in Accordance with International Standards

The Central Bank and the Agency for Statistics, as signatories of the Memorandum, will actively contribute within their respective competencies to the development and improvement of Government Finance Statistics (GFS) and the Excessive Deficit Procedure (EDP), in accordance with the European Union methodology and the principles of the European Statistics Code of Practice.

The Governor of the Central Bank of Bosnia and Herzegovina, Jasmina Selimović, Ph.D., emphasized that cooperation with the Agency for Statistics contributes to more precise and reliable reporting, as well as the international comparability of data.

"Reliable and methodologically aligned statistics enable high-quality monitoring of fiscal indicators and contribute to greater transparency of public finances, which is crucial for the stability and development of our country's economy," Governor Selimović pointed out.

The Director of the Agency for Statistics of Bosnia and Herzegovina, Vesna Ćužić, added that this form of institutional cooperation enables the further development of the statistical system.

"Through joint efforts, we are strengthening trust in official statistical data on public finances and the credibility of fiscal policies, while also contributing to the country's readiness to fulfill its obligations in accordance with international and European criteria for fiscal transparency," Director Ćužić emphasized.

The signing of the Memorandum represents an important element of the economic dialogue and cooperation between Bosnia and Herzegovina, the European Commission, and Eurostat.