Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 1. Executive Summary
This Public Expenditure and Institutional Review (PEIR) aims to help the government of the Federal Republic of Yugoslavia (FRY) in taking their public expenditure reforms further. It analyzes public expenditure practices, and institutions of the tw...
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| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2003/02/2210544/serbia-montenegro-public-expenditure-institutional-review-vol-1-3-executive-summary http://hdl.handle.net/10986/14822 |
| Summary: | This Public Expenditure and
Institutional Review (PEIR) aims to help the government of
the Federal Republic of Yugoslavia (FRY) in taking their
public expenditure reforms further. It analyzes public
expenditure practices, and institutions of the two Republics
- Serbia and Montenegro - and of the Federal Government,
and, evaluates their decision-making, and implementation
processes. The cross-cutting topics of the PEIR are:
sustainability of public expenditures; strategic allocation
of public spending, to maximize growth and welfare within
fiscally sustainable limits; and, accountability of the
public expenditure system, needed to maintain domestic, and
international support for the reconstruction programs of the
two Republics. The success of reforms depends on difficult
strategic choices: 1) the inherited, distorted fiscal
systems, and inefficient budget management practices, call
for a realistic focus in selecting the goals of reform; 2)
the best solution choice must be derived from the existing
structures, and practices; and, 3) the Governments of Serbia
and Montenegro should focus on deepening the reforms already
initiated, rather than launching a number of new ones. The
first volume provides an overview of the public expenditure
reform agenda; volume two focuses on the Republic of Serbia
and the Federal Government, while volume three discusses
public expenditure management issues in Montenegro. The
public expenditure problems of the Federal level receive a
somewhat limited treatment, as the contours of the future
union government takes shape. Similarly, challenges of
fiscal decentralization below the Republic level, receive
only a brief treatment, actually only in the Serbia volume. |
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