Accession of Bosnia and Herzegovina to the European Union: Impact on Public Finances, Budget and Legislation

The main objective of this paper is to define theimpact and the consequences of the processes of EuropeanIntegration on public finances, management of the budget andlegal standardization in Bosnia and Herzegovina and to give,accordingly to conducted research, the answer to a dilemmawhether joining the EU will bring more advantages ordisadvantages to Bosnia and Herzegovina and both of the it`sEntities.A special analysis is given on the impact of the accessionprocess on budgetary revenues, the costs of reform, and theinstitutional adjustment. The net financial effect of the preaccessionprocess and of joining the EU on the budgetary deficitand public debt of Bosnia and Herzegovina has also beenanalysed