Finances

Article VIII Finances


Paragraph 1: Budget

The Parliamentary Assembly shall each year, on the proposal of the Presidency, adopt a budget covering the expenditures required to carry out the responsibilities of institutions of Bosnia and Herzegovina and the international obligations of Bosnia and Herzegovina.

Paragraph 2: Provisional Budget

If no such budget is adopted in due time, the budget for the previous year shall be used on a provisional basis.

Paragraph 3: Shares in Revenues

The Federation shall provide two-thirds, and the Republic Srpska one-third, of the revenues required by the budget, except insofar as revenues are raised as specified by the Parliamentary Assembly.