Publication: Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 1. Executive Summary
Loading...
Published
2003-02
ISSN
Date
2013-08-06
Author(s)
Editor(s)
Abstract
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.
Link to Data Set
Citation
“World Bank. 2003. Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 1. Executive Summary. © World Bank. http://hdl.handle.net/10986/14822 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 2. Serbia(Washington, DC, 2003-02)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.Publication Serbia and Montenegro : Public Expenditure and Institutional Review, Volume 3. Montenegro(Washington, DC, 2003-02)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.Publication Islamic Republic of Pakistan : Country Financial Accountability Assessment(Washington, DC, 2003-12-30)The objective of the CFAA is to enhance knowledge of public financial management (PFM) and accountability arrangements in Bank's client countries. As a diagnostic tool, the CFAA supports the Bank's fiduciary responsibilities by identifying strengths and weaknesses of PFM so that potential risks to Bank funds can be managed. It also supports the Bank's development objectives by facilitating common understanding with the borrower and other development partners to assist in the design of PFM capacity building programs. The CFAA can also be used by the Government of Pakistan (GoP) to manage its internal finances and to strengthen accountability frameworks. This Country Financial Accountability Assessment concludes that there are substantial opportunities for consolidating current reforms and for introducing additional reforms to further strengthen public financial accountability. This will require sustained policy level commitment. The Government's will to reform is evidenced by the scale and variety of actions underway at the Federal and provincial levels. The Government of Pakistan has already embarked upon wide ranging reforms to improve budgetary and accounting systems and internal control arrangements. These reforms are now starting to show results: The risks of revenue shortfalls have been reduced with the initiation of tax policy and tax administration reforms ~ The risks of increasing excess debt have been reduced by more controlled budgeting and debt management though the use of the Medium-Term Budget Framework (MTBF) and the establishment of the Debt Office The risks of late and inaccurate federal annual accounts have been reduced by improved accounting controls introduced by the Controller General of Accounts (CGA) in compilation of accounts and the Fiscal Monitoring Committees in encouraging reconciliations. The risks of limited transparency in accounts at all levels have been reduced by the decisions to give the Auditor General responsibility for certification audit of all annual government accounts.Publication Pakistan : Sindh Provincial Accountability Assessment(Washington, DC, 2004-11-19)The Sindh PFAA was undertaken during 2003 to support the Sindh Structural Adjustment Credit and also to support the overall Country Financial Accountability Assessment (CFAA) which was completed in December 2003. The assessment covers budget developments and execution, financial reporting/accounting and internal control, external audit, and legislative oversight. This assessment notes that there is a longer term need for evolving a comprehensive legal framework of financial management in addition to the more short-term strengthening measures already partly underway in the Sindh Reforms Program. The assessment proposes a time-bound action plan, contained in the Action Matrix at the end of the report, for moving forward on each of the areas of reform and capacity building.Publication Russian Federation : Country Financial Accountability Assessment(Washington, DC, 2003-09-16)This CFAA concentrates, by design, on federal-level public sector financial management in the Russian Federation. Its results feed into the fiduciary discussion presented in the new Russian Federation Country Assistance Strategy (CAS), and into the Core Integrative Fiduciary Assessment (CIFA). In budget management the CFAA recommends 1) strengthening the strategy phase of budget preparation to link macroeconomic resource constraints and sectoral and program targets; 2) adopting a uniform, simplified budget coding structure; 3) adopting a more participatory approach to budget planning and formulation; 4) introducing accounting principles by entities with extra-budgetary funds and preparing reports that are compatible with Treasury accounts and fiscal reporting; 5) preparing a program of institutional development for the MOF and applying modem information technology; and 6) amending the chart of accounts (COA) to fully reflect the budget classification. The development and implementation of a full-function Treasury system will take several years and is not expected to become fully operational before 2004/05. In the interim, the CFAA recommends immediate implementation of an improved system of expenditure monitoring, extension of Treasury control of expenditure commitments to all items of the economic expenditure classification, and replacement of weekly cash finding limits by monthly funding of established expenditure commitments. In accounting and financial reporting, some recommendations are to 0 review of existing budget classifications and coding structures and design of a revised structure and COA that conform with the IMF GFS classification; and to integrate the two existing coding systems. To improve internal controls and internal auditing, the report recommends regarding the internal audit as an important management tool, shifting to a new model, based on service orientation and performance/risk assessment, internal audit functions becoming independent from other organizational and functional departments, staff reporting directly to the head of the organization, regulating the entity by an audit charter, and audit functions be carried out by multi-disciplinary teams. As for external audits, the CFAA strongly supports the Chambers' program of institutional and methodological improvements, in particular its preparation of a long- term plan to assess public institutions' performance (value for money) in the use of public funds. Finally, the CFAA finds that the World Bank is adequately discharging its financial management fiduciary responsibilities with respect to its lending operations. The CFAA risk assessment concludes that the current ring-fencing approach to project implementation arrangements should be maintained, recognizing that--based on the effective operationalization of the reforms being introduced in public financial accountability--the present arrangements could in due course be subject to revision.
Users also downloaded
Showing related downloaded files
Publication Jobs in a Changing Climate: Insights from World Bank Group Country Climate and Development Reports Covering 93 Economies(Washington, DC: World Bank, 2025-11-05)The World Bank Group’s Country Climate and Development Reports (CCDRs) provide a crosscutting look at how countries’ development prospects, and the job opportunities they offer to their people, can be threatened by climate impacts and supported by climate policies. Climate change and policies affect jobs through impacts on productivity, energy and material efficiency, and physical, human, and natural capital. They can also transform employment opportunities, especially through complementary measures that help workers and firms adapt to and benefit from new technologies and production practices. Prepared by the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), CCDRs integrate country perspectives, climate science and economic modeling, private sector information, and policy analysis to assess how countries can successfully grow and develop their economies and create jobs despite increasing climate risks and while achieving their climate objectives and commitments. Each CCDR starts from the country’s development priorities, opportunities, and challenges, and is developed in close consultation with governments, businesses, and civil society, ensuring the recommendations reflect national priorities. By combining evidence on adaptation, resilience, and emissions pathways, CCDRs highlight where climate action can reinforce development and job creation, and where targeted policies are needed to manage risks and smooth labor market transitions. Taken together, these elements can help create local jobs, ensure economic transitions are just and inclusive, and equip workers and firms to navigate the disruptions and opportunities of a changing climate and changing technologies.Publication Comoros Country Climate and Development Report(Washington, DC: World Bank, 2025-06-18)The Union of the Comoros (The Comoros) has significant vulnerability to climate change-related risks but has considerable opportunities to strengthen preparedness and resilience against these challenges. According to the Notre Dame Global Adaptation Index, the Comoros is the 29th-most vulnerable country to climate change and the 163rd most ready to adapt (out of 191). The Comoros archipelago is exposed to many natural hazards that adversely affect the country’s natural capital, people, and physical infrastructure. In 2014, the economic cost of climate-related disasters was estimated at 5.7 million dollars annually, equivalent to 9.2 percent of Gross Domestic Product (GDP). Between 2018 and 2023, as many as 11 tropical depressions or cyclones impacted the country, with Cyclone Kenneth causing the greatest damage, equivalent to 14 percent of GDP, resulting in total economic growth falling from 3.6 percent in 2018 to 1.9 percent in 2019. More than 345,000 people (40 percent of the population) were affected by the cyclone, with 185,000 people experiencing severe impacts and 12,000 people displaced. However, there is an opportunity for the country to grow more robust and shock-responsive, and to establish pre-positioned funding mechanisms to enhance future crisis response efforts. For the Comoros, adaptation and climate-resilient development are the key climate change focus areas, with the country projected to face 836 million dollars 2050 in additional costs due to climate-related impacts. Current plans to adapt to the impacts of climate change in the Comoros include efforts to improve water management, strengthen coastal protection, and develop climate-smart agriculture practices. Given the country’s reliance on its natural resource base for economic growth and mobility, protection of these resources from climate change will be essential for promoting resilient growth and development. In addition to growing the adaptive capacity of the country’s natural resource sectors, strategic economic diversification will be important to help minimize future climate impacts, and development activities will need to be undertaken in such a way as to attract low-carbon co-benefits. The Union of the Comoros is committed to addressing climate change through its Nationally Determined Contribution (NDC) and national priorities. The country’s NDC (which was revised in 2021 for a ten-year horizon) sets ambitious targets, with a goal of reducing greenhouse gas emissions by 23 percent by 2030. The country also plans to significantly increase the share of renewable energy in its energy portfolio, reaching 33 MW by 2030. This will not only promote low-carbon development but also reduce the country’s dependency on imported oil and coal, which currently make up 95 percent of the energy mix. Additionally, the Comoros has declared its intention to increase CO2 removals by 47 percent by 2030, compared to BAU.Publication Guinea-Bissau Country Climate and Development Report(Washington, DC: World Bank, 2024-10-23)Guinea-Bissau is endowed with a wealth of natural resources, with the highest natural capital per capita in West Africa (US3,874 dollars per capita), which could be leveraged for sustainable and resilient growth. However, Guinea-Bissau faces significant development hurdles, such as high poverty rates, political instability, and economic challenges, including an over-reliance on cashew nuts. Rural poverty has increased, and the nation's infrastructure, education, and health care systems are underdeveloped. Climate change poses a severe threat, potentially impacting agriculture, fisheries, and infrastructure. Without adaptation, it could lead to a significant cut in real GDP per capita (minus 7.3 percent by 2050) and increase in poverty (with up to over 200,000 additional poor by 2050, that is, 5 percent of the expected population, in the worst scenario). The country's low greenhouse gas emissions are expected to rise, mainly due to agriculture and land-use changes, with deforestation being a major contributing factor. Although Guinea-Bissau is a low emitter, it has high mitigation ambitions, targeting a 30 percent reduction in greenhouse gas emissions by 2030. The Nationally Determined Contribution outlines significant climate actions, with initiatives focused on forest conservation, sustainable agriculture, and community development. However, the country's political instability, institutional weaknesses, and limited financial resources pose challenges to implementing these climate commitments, which depend heavily on external funding. The financial sector's underdevelopment and vulnerability to external shocks limit its ability to support green investments, though reforms could enhance resilience. Guinea-Bissau must consider its climate financing as development financing and vice-versa, engage the private sector, and integrate climate goals with national development plans to ensure a sustainable future. Concessional climate financing is vital due to the underdeveloped financial sector and the government’s limited borrowing capacity. Addressing Guinea-Bissau's vulnerability to climate change and its structural issues requires a cohesive approach that integrates development and climate strategies. This could involve improving governance, diversifying the economy, protecting natural capital, developing human capital, and investing in sustainable agriculture and infrastructure. The transition to a more sustainable and inclusive development pathway that supports economic growth is possible, but requires focusing on key strategic sectors, enhancing institutional capacity, and creating the conditions to mobilize finance. As a highly vulnerable country, there are myriad needs in the different sectors; however, to be more efficient and effective, Guinea-Bissau should prioritize actions in a few sectors, especially actions on biodiversity, agriculture, and social protection. Low carbon development, especially in energy and forestry sectors, could provide cost-efficient solutions and attract climate finance, including from the private sector, which will support the overall development agenda.Publication Mongolia Country Climate and Development Report(Washington, DC: World Bank, 2024-10-22)Mongolia’s development prospects are uniquely challenged by both the impacts of climate change and the global shift toward a low-carbon economy. The country’s efforts toward decarbonization pose significant challenges given the structurally high-emission intensity of its economy. While challenging, climate action also presents Mongolia with opportunities to achieve important development benefits. The effects of climate risks and the shift away from coal will have diverse impacts across different regions, communities, and socioeconomic levels. The report assesses the critical interconnections between Mongolia’s development ambitions and climate change action and identifies ways to transition to a more economically diversified, inclusive, and resilient development path. It highlights key climate and transition risks affecting Mongolia’s future development and presents a pathway to enhance climate mitigation and adaptation. The report also makes a case for strengthening policies to enhance resilience to climate change and ensure a just transition, particularly for the most vulnerable. The report is structured as follows: section 1 gives introduction. Section 2 delves into the linkages between development and climate in Mongolia and presents model-based findings on the economic and poverty impacts of climate change under different scenarios. Section 3 covers four in-depth sectoral analyses. The first two mainly focus on adaptation to climate change in the agriculture and water sectors. The third considers prospects for the extraction sector, while the fourth sectoral analysis focuses on decarbonizing power and heat generation. Section 4 shifts the focus to how the government can boost resilience for climate-vulnerable populations. Section 5 outlines options for mobilizing private and public financing and private investments to support the green transition. Section 6 examines the existing institutional and governance structure for climate action and presents recommendations to improve its effectiveness, and section 7 concludes with a framework for prioritizing the policy actions outlined in this report.Publication Kyrgyz Republic Country Climate and Development Report(Washington, DC: World Bank, 2025-11-03)This Country Climate and Development Report (CCDR) on the Kyrgyz Republic aims to support the country’s development goals amid a changing climate. The CCDR considers two policy scenarios up to 2050: the business-as-usual (BAU) and high-growth scenarios. As it quantifies the likely impacts of climate change on the Kyrgyz economy between now and 2050, the report highlights key government actions to best prepare for and adapt to climate impacts (referred to as “with adaptation” measures), with a particular focus on the time horizon up to 2030. The CCDR also outlines a path to net zero emissions by 2050 (referred to as “with mitigation” measures, “decarbonization,” or, simply, “net zero 2050”), highlighting associated development co-benefits.