Home arrow Laws on Budget arrow LAW NO.03/L-105 ON BUDGET OF REPUBLIC OF KOSOVO FOR YEAR 2009
Dhj 31 2008
LAW NO.03/L-105 ON BUDGET OF REPUBLIC OF KOSOVO FOR YEAR 2009
e mërkurë , 31 dhjetor 2008

 

LAW  Nr. 03/L-105

 

 

ON BUDGET of REPUBLIC OF KosovO FOR YEAR 2009

 

 

Assembly of Republic of Kosovo,

 

According to paragraph (1) and (5) of Article 65 of Constitution of the Republic of Kosovo,

 

In order to define the Budget of Republic of Kosovo for fiscal year 2009,

 

Adopts:

 

LAW ON BUDGET of REPUBLIC OF KosovO FOR YEAR 2009

 

 

Article 1
Definitions

 

"Allowances" means supplementary payments in consideration for:

 

(a) specific work assignments with special responsibility;

 

(b) work assignments which are hazardous; and

 

(c) night work that is not paid as overtime.

 

"Budget of Republic of Kosovo" means the legally authorized amount that is made available for expenditure from the Kosovo Fund for a specific program or purpose or, where a specific purpose is not identified, for an expenditure category for a Budget Organization, as set out in this Law on the Budget of Republic of Kosovo.

 

"Balances" means the amounts of unexpended commitments, unallocated budget appropriations, uncommitted allocations and any revenues in excess of the sum of expenditures and unexpended commitments carried forward from Fiscal Year 2008;

 

"Budget Organizations" means all Ministries, Municipalities or Agencies which receive budget appropriations from the Kosovo Fund under this Law on the Budget of Republic of Kosovo.

 

"Central Budget Organization Own Source Revenues" means and includes any item of public money that has been lawfully assessed on a cost recovery basis and collected as fees and charges by Central Budget Organizations. However, this definition specifically excludes Dedicated Revenue for Independent Agencies.

 

"Central Budget Organizations" means all Budget Organizations excluding Municipalities.

 

"Commitments" means contemplated expenditures, for which a Commitment Payment Order has been duly completed in accordance with the Treasury Financial Rules and recorded in the Kosovo Financial Management Information System, whether or not subject to a legal obligation.

 

"Dedicated Revenue" means public money that is derived from a particular revenue source and is required by Law to be appropriated to an Independent Agency.

 

"Designated Entities" means those entities set out in Schedule A of the LPFMA.

 

"Employee position" means a full time or equivalent to full time position of employment as set out in Table 2 of this Law on the Budget of Republic of Kosovo.

 

"ERO" means the Energy Regulatory Office established in accordance with the Law on the Energy Regulator, as promulgated by UNMIK Regulation No.2004/20 of 30 June 2004.

 

"Expenditure categories" means the categories for expenditures that are contained in this Law on the Budget of Republic of Kosovo: Salaries and Wages, Goods and Services, Utilities, Subsidies and Transfers, Capital Outlays, and Reserves.

 

"Expenditures" means the payment of money from the Kosovo Fund.

 

"Fiscal Year" means the period from January 1 of a year to December 31 of the same year.

 

"Funds allocation" means the maximum amount of Expenditures and Commitments able to be made against specific budget Appropriations, as determined under the procedures set out in Article 35 of the LPFMA and recorded in KFMIS.

 

"Independent Agency" means a public body, authority or agency that has been designated as being independent by the Constitution or by Law and exercises regulatory, executive, legislative, public administrative or judicial powers.

 

"Kosovo Budget" means the overall budget of Kosovo for all Budget Organizations, for which the budget appropriations are set out in this Law on the Budget of Republic of Kosovo.

 

"Kosovo Fund" means the fund established in the Central Bank of Kosovo and other commercial bank accounts that may be established by the Treasury into which all public moneys, including accrued interest thereon, are deposited and from which all Expenditures are made in accordance with this Law on the Budget of Republic of Kosovo.

 

"Kosovo Financial Management Information System (KFMIS)" means the accounting record established within the Treasury of the Ministry of Economy and Finance. KFMIS as used herein shall have the same meaning as the term "Treasury Accounting Record" which is defined in the LPFMA.

 

"KPA" means the Kosovo Property Agency established in accordance with UNMIK Regulation No. 2006/10 of 4 March 2006, as amended by UNMIK Regulation No. 2006/50 of 16 October 2006.

 

"Law on the Budget of Republic of Kosovo" means this law as passed by the Assembly for Fiscal Year 2009.

 

"LPFMA" means the Law on Public Management and Accountability of 2008 Law No.2008/03-L067.

 

"Minister" means the Minister of Economy and Finance.

 

"Municipal Own Source Revenues" means and includes any item of public money that has been lawfully assessed and collected by a municipality from a source specified in Article 8 of the law on Local Government Finance, Law No. 2008/03/L-049.

 

"New Municipalities" shall mean those municipalities created under the Law on Municipal Administrative Boundaries, Law No. 03/L-041.

 

"Obligation" means a legal agreement, such as a contract or purchase order, entered into by a Budget Organization, that requires the Budget Organization to make expenditure in the future;

 

"Undisposed Funds" means the amount of money that remains either inappropriate or unexpended in the Kosovo Consolidated Fund as of December 31 of the previous Fiscal Year.

 

"RTK" means the Radio Television of Kosovo established in accordance with UNMIK Regulation No.2006/14 of 11 April 2006.

 

"Treasury" means the Department of the Treasury within the Ministry of Economy and Finance.

 

"Treasury Financial Rules" shall mean the Financial Management and Control Rules as defined in the LPFMA.

 

"Trust Fund" means the public money that is held by a budget organization for the benefit of a person, body or undertaking other than a budget organization.

 

Any terms that are used in this Law on the Budget of Republic of Kosovo that are not defined herein shall have the meaning assigned to them in the LPFMA.

 

 

Article 2
Approval of the Kosovo Consolidated Budget for Fiscal Year 2009

 

The Kosovo Budget for Fiscal Year 2009 as set out in Table 1 is hereby approved. The Budget may be only be amended by the Assembly of the Republic of Kosovo in conformity with the provisions of the LPFMA.

 

 

Article 3
Kosovo General Budget Appropriations

 

1. Budget Appropriations from the Kosovo Fund for the Fiscal Year 2009, as set out in Table 2 A and Table 2 B attached to this Law are hereby authorized.

 

2.  The Minister shall maintain a record of all approved budget appropriations, budget appropriation transfers or other approved adjustments to budget appropriations made during Fiscal Year 2009 through the KFMIS, supplemented as necessary by other records. At least twice a year, for the 2009 mid-year Budget review and for a final report within three months of the close of the Fiscal Year 2009, and any other time when requested by the Assembly, the Minister shall present to the Government and the Assembly a comprehensive report detailing and reconciling the originally approved Budget 2009 appropriations, all subsequent transfers and other changes and the final budget appropriations for the Fiscal Year 2009.

 

 

Article 4
Municipal Budget Appropriations

 

1. Notwithstanding Article 3, Budget Appropriations in Table 2, B that are based on the Municipal Own Source Revenues are only authorized to the extent such revenues are deposited in the Kosovo Fund and duly recorded in the KFMIS.

 

2. In the event that during the Fiscal Year, a Municipality's Own Source Revenue amounts, which have been deposited into the Kosovo Fund and recorded in KFMIS,  exceed the revenue amounts budget appropriated in Table 2 B for such municipality, an automatic Appropriation is hereby authorized for such excess revenue. Provided however, such excess revenue may not be allocated or expended until an adjustment is made to the budget of such municipality by the Municipal Assembly in accordance with the procedures set out in the LPFMA.

 

3. Municipal Own Source Revenue from education shall be recorded separately and such revenue may only be appropriated and used by the municipality for education purposes. Municipal Own Source Revenue from primary health care co-payments shall be recorded separately, and such revenue may only be appropriated and used by the municipality for primary health care purposes.

 

4. Budget Appropriations for Performance Payment Program in Table 2 B may only be used by the municipality for the payment for performance in health in accordance with principles and criteria set by the Ministry of Health. These Budget appropriations may only be expended subject to prior authorization by the Ministry of Health confirming municipality's achievement of performance targets.

 

5. Budget Appropriations for financing of New Municipalities in Table 2B may only be expended by the existing municipalities for purposes benefiting the communities within Cadastral zones of the New Municipalities. The Minister may issue administrative instructions on the governance, finances, administration and internal control for the New Municipalities in consultation with the Minister of Local Government Administration, International Civilian Representative, and concerned municipalities. The existing Municipalities shall on quarterly basis report on all expenditures to the Minister.

 

6. Upon the establishment of a New Municipality as a Budget Organization in accordance with the Law on Administrative Municipal Boundaries, Law No. 03/L-041, Appropriations for the New Municipality set out in Table 2 A and 2B shall be automatically transferred to that New Municipality in accordance with the Article 31 of LPFMA.

 

 

Article 5
Central Budget Organization Own Source Revenues

 

1. All Own Source Revenues for Central Budget Organizations shall be deposited by the Central Budget Organizations into the Kosovo Fund and recorded in KFMIS in accordance with the Treasury Financial Rules.

 

2.  The Minister is hereby authorized to sign a Memorandum of Understanding with a Central Budget Organization which will appropriate their Own Source Revenues, as limited by the following:

 

2.1. the amount of revenues to be appropriated may not exceed the amount collected.

 

2.2. the amount appropriated from Own Source Revenues shall be limited to those revenues collected and recorded into KFMIS after the date on which the Memorandum of Understanding is signed.  Provided however, that unexpended funds carried forward under Article 7 of this Law may be included in the Memorandum of Understanding.

 

2.3.except as provided in paragraph 6 of Article 10 of this Law, Own Source Revenues may not be appropriated to fund new Allowances.

 

 2.4. Own Source Revenues of Budget Organizations planned in non taxed revenues in Table 1, cannot be part of the Memorandum of Understanding. 

 

 

Article 6
Independent Agencies Dedicated Revenue

 

1. All Dedicated Revenue shall be deposited by the Independent Agencies into the Kosovo Fund and recorded in KFMIS in accordance with the Treasury Financial Rules. All Independent Agencies are also required to submit cash flow plans to the Treasury.

 

2. All Dedicated Revenue is hereby appropriated to each of the Independent Agencies according to the Constitution and their enabling Laws. This Budget of Republic of Kosovo includes all Dedicated Revenue as it is received during Fiscal Year 2009.

 

3. All unexpended balances of Dedicated Revenue from Fiscal Year 2008 are hereby appropriated and authorized for Fiscal Year 2009 to the Independent Agencies according to the Constitution and their enabling Laws. Provided however, the maximum amount of Dedicated Revenue that is hereby appropriated may not exceed the amount specified in Table 2 of this Law and any excess shall no longer be considered as Dedicated Revenue.

 

4. The sum of Dedicated Revenue appropriated in paragraphs 2 and 3 of this article shall not exceed the maximum appropriation for the Independent Agencies specified in Table 2 of this Law.

 

5. If at any time during Fiscal Year 2009 there is insufficient funds collected and available under paragraphs 2 and 3 of this article to meet the expenditure requirements set out in the cash flow plan submitted to the Treasury, other public moneys from the Kosovo Fund are hereby authorized to be appropriated in an amount sufficient to meet the deficit. Provided however, that at all times Dedicated Revenues shall be applied and exhausted as a first priority funding source for payment of Independent Agency's Expenditures before other funding sources are appropriated and used.

 

6. As Dedicated Revenues for Fiscal Year 2009 are received and appropriated, they will replace all appropriation and funding made in accordance with paragraph 5 of this article to the extent that the deficit funding from the Kosovo Fund has not yet been expended.

 

 

Article 7
Appropriation and Re-Appropriation of Carried Forward Fund Balances

 

1. No later than thirty (30) days after issuance of full budget appropriations for Fiscal Year 2009, the Government shall submit to the Assembly a preliminary  Schedule indicating the total amounts, sources and uses of the funds carried forward as balances from Fiscal Year 2008, including:

 

    1.1. unexpended balances of Central Government Own Source Revenues;

 

    1.2. unexpended balances of Municipal Own Source Revenues;

 

    1.3. unexpended balances of Designated Donor Grants;

 

    1.4. balance of Trust Funds held by Budget Organizations;

 

    1.5. any funds that shall be kept as Retained Earnings; and

 

    1.6. unexpended loans to Designated Entities.

 

2. No later than thirty (30) days after issuance of full budget appropriations for Fiscal Year 2009, the Government shall submit to the Assembly, a Table indicating changes to the attached Table 3 required for Budget Organizations to meet outstanding financial obligations associated with multi-year capital projects.  Changes to the Table 3 shall be limited as follows:

 

2.1.  The total budget Appropriation for capital projects set out in Table 2 for any Budget Organization or program shall not increase as a result of these changes.

 

2.2.  Any new project added to Table 3 must be a capital project that was contained in Table 3 of the 2008 Law on Budget Appropriations.

 

2.3. Provided however, that new capital projects may be added to Table 3 when the capital project is funded entirely by unexpended balances that are set out in paragraph 1 of this article and appropriated in Fiscal Year 2009.

 

3. Unexpended balances of Central Budget Organizations Own Source Revenues from Fiscal Year 2008, to the extent they have been deposited in the Kosovo Fund and recorded in KFMIS as Budget appropriations for a Central Budget Organization, are hereby appropriated for Fiscal Year 2009, to the extent these funds are included in the Memorandum of Understanding described in Article 5 of this Law.

 

4. Unexpended balances of "Municipal Own Source Revenues" from Fiscal Year 2008, to the extent they have been deposited in the Kosovo Fund and recorded in KFMIS as Budget appropriation to a municipality, are appropriated for Fiscal Year 2009.

 

5. Unexpended balances of designated donor grants recorded in KFMIS are appropriated for Fiscal Year 2009 to the extent there is a legally binding grant agreement in effect.

 

6. Unexpended balances of loans to Designated Entities authorized in Fiscal Year 2008 are appropriated for Fiscal Year 2009.

 

7. Unexpended Trust Fund balances from Fiscal Year 2008 recorded in KFMIS are appropriated for Fiscal Year 2009.

 

 

Article 8
Appropriation of Donor Grants

 

1. In accordance with the LPFMA all donor grants shall be deposited into the Kosovo Fund, unless otherwise required by the Donor and agreed to in writing by the Minister. All donor grants must be recorded in KFMIS.

 

2. Upon completion of the procedures in the Treasury Financial Rules, the donor grants shall be appropriated for the specified purpose(s), and may be allocated and expended for such purpose(s).

 

3. Where a Donor grant agreement expressly requires the Donor to reimburse certain expenditures incurred by a Budget Organization, the full amount of the Grant is hereby appropriated upon the execution of the grant agreement.

 

 

Article 9
Other Budget Appropriations

 

1. All public money held by the KPA in the exercise of its responsibility to design, implement and administer the Rental Scheme for the properties that the KPA has in its inventory and any related payments from the KPA account are to be duly recorded in KFMIS and accounted for as part of the Kosovo Fund in accordance with the KPA legislative framework, the LPFMA and the Treasury financial rules. Such public money held by the KPA shall be deemed to have been appropriated for the specific purpose(s) authorized under the applicable law and the KPA Rental Scheme, and may be allocated and expended for such purpose(s).

 

2. All public broadcast fees transferred to the Kosovo Fund by RTK which represent that five percent (5%) of the Public Broadcasting Fees, and which is designated for the support of Minority, Multiethnic, and disadvantaged Media, is hereby appropriated to the Office of the Prime Minister.

 

3. All Trust Funds are to be duly recorded in KFMIS and accounted for as part of the Kosovo Fund in accordance with the LPFMA and the Treasury Financial Rules. Such Trust Funds are hereby appropriated for the use by or on behalf of the intended beneficiaries.

 

 

Article 10
Limits on Commitments and Expenditures

 

1. Each Budget Organization is required to ensure that the number of its 2009 employee positions does not at any time during Fiscal Year 2009 exceed the number of employee positions specified in Table 2 attached to this Law.

 

2. Failure to comply with the limits on the number of employee positions is a breach of this Law and of the LPFMA. The penalties provided for in the LPFMA shall apply.

 

3. Expenditure of public moneys from the Expenditure Category Subsidies and Transfers shall be limited to circumstances where there is a clear legal basis for such expenditures according to a Law other than this Law.

 

4. Expenditure of public moneys from the Expenditure Category Goods and Services is not permitted for payment to Employees either as Allowances or as in kind contributions, including meals, or gifts. All existing Allowances must be reported to the Minister within fifteen days of adoption of this Law. Allowances will not be paid in Fiscal Year 2009 until the Budget Organization has submitted a report containing the legal basis, purpose and amount for all existing Allowances and the Allowances have been submitted to and approved by the Government. Transfers into the Expenditure Category Wages and Salaries shall be made to pay for all approved Allowances from the Expenditure Category in which these Allowances were included in the Budget for Fiscal Year 2009. Provided however, that the total amount appropriated under this Law for each Budget Organization shall not be increased and all transfers are recorded in KFMIS.

 

5. A Budget Organization shall not issue an invitation to tender for an approved capital project identified in Table 3 after October 31, 2009 for potential expenditure in Fiscal Year 2009 unless expenditure is projected for such capital project for 2010 or 2011, in Table 3.

 

6. A proposal by a Budget Organization to pay new Allowances to employees shall be submitted to the Minister of Finance and Economy for approval before new Allowances are committed or expended. After consultation with the Government and the Minister of Public Services, the Minister of Finance and Economy shall either approve or reject such proposals within sixty (60) days of receipt of a proposal. The Allowances shall be paid out of the Budget Appropriations in the Expenditure Category for Wages and Salaries.

 

7. Expenditures relating to expropriation must be approved by the Government before being expended.

 

8. In the event an individual or entity receives a payment by mistake, error or omission from the Kosovo Fund, such funds shall be returned to the Kosovo Fund within five days after receipt of a written notice from the Director of Treasury advising the receiving party that such payment was made in error. 

 

 

Article 11
Advance Payments

 

1. Budget Organizations may make advance payments to vendors for capital projects that have been approved in accordance with this Law, up to a maximum of fifteen percent (15%) of the value of the contract.  Provided however, any such advance payment shall only be made in accordance with a legally binding contract that is entered into in accordance with the Law on Public Procurement which must contain a performance guarantee and clearly set out a complete payment schedule that includes the work required to be completed before each payment may be made.  Upon receipt of a written request by the Budget Organization and approval by the Minister, the Government may approve an advance payment not higher than thirty percent (30%) of the value of the contract

 

2. Budget Organizations may make advance payments to employees for travel abroad in accordance with the currently in-force rules for travel abroad and in accordance with Treasury financial rules.  Such advances shall be closed, and unspent amounts returned to the Kosovo Fund, in accordance with the Treasury Financial Rules.

 

 

 

Article 12
Contingent Expenditures and Reserves

 

1. Funds for contingent expenditures are appropriated to the Reserve of the Minister of Finance and Economy in Table 2A.  Amounts may be transferred from the Reserve of the Minister of Finance and Economy as provided in Article 29 of the LPFMA. The amounts authorized for contingent expenditures may be used only for urgent and unforeseen requirements.

 

2. Upon the request and the justification of the Budgetary Organization, the Government in accordance with Article 29.3 of the LPFMA, may authorize the Minister to allow the expenditure from the miscellaneous for an amount of up to 20,000 Euro. The total amount of the authorization on the name of the Minister, may not exceed twenty percent (20%) of the annual miscellaneous allocated

 

3. Funds for contingent expenditures are appropriated to the Reserve for Status Implementation in Table 2A. Funds appropriated to the Reserve for Status Implementation shall only be transferred to programs that support new Status related responsibilities of the Government.  These funds shall only be released for specific programs, projects and functions as specified in a plan(s) that is approved by the Government.

 

4. Funds for contingent expenditures are appropriated to the Municipal Reserve for New Municipalities under the Ministry of Local Government and Administration. This Municipal Reserve may either be expended for the benefit of communities within Cadastral zones in New Municipalities by the Ministry of Local Government and Administration in consultation with International Civilian Representative and concerned municipalities or transferred directly to New Municipalities upon their establishment.

 

5. Funds for contingent expenditures are hereby appropriated to the Fund for Salary Increases under the Ministry of Finance and Economy.  This fund is to  be transferred to Budget Organizations by the Minister in accordance with a plan prepared by the Minister of Public Services and the Minister of Finance  which specifies the employees who  are to receive  the salary increases,  and the amount of the proposed salary increases, which in no event may  exceed  ten (10 ) percent of the current salary level, excluding Allowances,  for  any employees. This plan must be submitted and approved by the Government before this fund can be transferred in to each of the Budget Organizations in "Expenditure Category of Wages and Salaries".  All such transfers are hereby approved and as such are not subject to the limitations on transfers contained in Article 30 of the LPFMA.  Where municipalities are the recipient of such transfers, this shall be treated as an increase in the relevant municipal grants.

 

6. Funds for contingent expenditures are hereby appropriated to the Brain Fund under the Ministry of Finance and Economy. This Fund may be transferred into certain Budget Organizations' expenditure category of wages and salaries by the Minister in accordance with a plan that specifies the employment positions and the amount of funds that are specifically needed for attracting and retaining highly skilled non-political staff in positions of national significance in areas of policy development. This plan must be submitted to and approved by f the Government before any transfer s of this fund may occur. All such transfers are hereby approved and as such are not subject to the limitations on transfers contained in Article 30 of the LPFMA.

 

7. The Minister shall submit a quarterly report on the use of contingent expenditures to the Assembly.

 

                                                                                      

Article 13
Transfer of Amounts Appropriated

 

1. The Minister may, if provided with a valid justification by the head of a Budget Organization, authorize the transfer of one budget appropriation of that budget organization to another appropriation of that Budget Organization in accordance with Article 30 of the LPFMA. Provided however, that the limitations contained in Article 30 of the LPFMA on transfers shall be applied to the cumulative total amount that may be transferred during Fiscal Year 2009, inclusive of each separately requested transfer.

 

2. Notwithstanding the provisions of paragraph 1 of this article and paragraph 4 of article 10 of this Law, no transfer of Budget appropriation within a Budget Organization may be made into the Expenditure Category of Wages and Salaries without the prior approval of the Assembly. Further, the prior approval of the Assembly is also required for any transfer between Budget Organizations.

 

3. Upon approval of any transfer an adjustment to the amounts appropriated in Table 2 shall be made by the Minister and recorded in KFMIS.

 

 

Article 14
Changes in Amounts Allocated to Capital Projects Within a Program

 

1. Funds may only be allocated to capital projects listed in Table 3. For capital projects set out in Table 3, the Minister may, if provided with valid justification by the head of a Budget Organization, authorize the movement of allocated funds from one capital project to another capital project within the same program of that Budget Organization provided that the amount is less than or equal to fifteen percent (15 %) of the total value of the negatively affected capital project.

 

2.  For any capital project set out in Table 3, the Minister may, if provided with valid justification by the Head of a Budget Organization, submit a request for approval to the Government for the movement of allocated funds from one capital project to another capital project within the same program of that Budget Organization in an amount greater than fifteen percent (15 %) but less than twenty five percent (25 %) of the total value of the negatively affected capital project.

 

3. Requests for movement of allocated funds equal or greater than twenty five percent (25 %) of the total value of the negatively affected capital project to another capital project within the same program of that Budget Organization in Table 3 may be authorized only after a valid justification by the Head of a Budget Organization is submitted to the Minister who shall obtain the prior approval of the Government and the written approval of the Budget Committee of the Assembly.

 

4. New capital projects may be added to Table 3 provided that they are funded under the procedures authorized in paragraph 2 of Article 4, paragraph 2 of article 7 of this law and paragraph 2 and 3 of this article and added to the Public Investment Program in accordance with instructions issued by the Minister.

 

5. For the purpose of paragraphs 1, 2, 3 and 4 of this article a valid justification prepared by the Head of the requesting Budget Organization must include, at a minimum, evidence that the estimated cost of the capital project is greater than the available funds as determined in accordance with Article 8 of the Law on Procurement No. 2003/17, or that  a capital project  requires less than the amount specified,  as well as the effect of the request on the Public Investment Program.

 

6. Notwithstanding the foregoing provisions in this Article, changes of amounts allocated to capital projects of Municipal Budget Organizations as shown in Table 3 may be authorized by the Minister after approval by the Municipal Assembly.

 

 

Section 15
Budget Estimates for Proposed Legislation

 

Prior to submitting any proposed law to the Government for consideration and following consultation with the Ministry of Finance and Economy, the Budget Organization is required to submit to the Government an estimate of the budget implications for the proposed law for the 2009 Kosovo Budget and the Budget for no less than the two succeeding years as required in Section 26 of the LPFMA.

 

 

Section 16
Credit to Designated Entities and Publicly Owned Enterprises

 

1. The Minister shall have the authority to provide to a Designated Entity in accordance with Section 50.2 of the LPFMA, or to a Publicly Owned Enterprise as defined in the Law on Publicly Owned Enterprises No.03/L-087, a reimbursable loan or credit facility from the Kosovo Fund, in an amount and in accordance with the terms and conditions approved by the Government. The amounts approved for such credits or loans are hereby appropriated and set out in Table 1. The reimbursable loan or credit facility shall be based on an agreement between the Designated Entity or Publicly Owned Enterprise receiving the loan or credit facility and the Minister, and shall only be used for capital expenditure purposes.

 

2. If a Public Enterprise or its part that has benefited a loan in accordance with paragraph 1 of this article from the Budget of Republic of Kosovo and that possess the decision for privatization, granting concession or other forms of private-public partnership for year 2009, then the granted loan to such enterprises shall be counted as part of contract and shall be paid (returned) in accordance with table 1 which is attached. 

 

 

Article 17
Lapse of Republic of Kosovo Budget

 

All the Budget of Republic of Kosovo and funds allocations made in Fiscal Year 2009 shall automatically lapse at midnight of 31 December 2009.

 

Article 18
Entry into Force

 

This law shall enter into force on 1 January 2009. 

 

 

 

Law No. 03/L-105

19 December 2008

 

 

Promulgated by the Decree No. DL-081-2008,  dated 30.12.2008, of the President of Republic of Kosovo, Dr. Fatmir  Sejdiu.

 

 

 
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