World Bank2013-08-062013-08-062003-02https://hdl.handle.net/10986/14823This 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.en-USCC BY 3.0 IGOACCOUNTABILITYANTI- CORRUPTIONANTI-CORRUPTIONANTI-CORRUPTION STRATEGYBALANCE SHEETBALANCE SHEETSBANKING SECTORBANKING SYSTEMBORROWINGBUDGET DEFICITSBUDGET EXECUTIONBUDGET EXPENDITURESBUDGET FINANCINGBUDGET FORMULATIONBUDGET MANAGEMENTBUDGET PROCESSBUDGET SYSTEMBUDGETARY FUNDSCAPITAL MARKETSCASH BUDGETSCITIZENSCIVIL SERVICECOMMERCIAL CREDITORSCONSTITUTIONCONSTITUTIONAL CHANGECOUNCIL OF MINISTERSCREDITWORTHINESSDECISION-MAKINGDEPOSITSEBFECONOMIC GROWTHECONOMIC POLICIESEIBELECTRICITYENTERPRISE RESTRUCTURINGEQUITY CAPITALEVASIONEXCHANGE RATESEXECUTIONEXPENDITURE REFORMEXTRABUDGETARY FUNDSFEDERAL BUDGETSFEDERAL GOVERNMENTFINANCIAL ACCOUNTABILITYFINANCIAL DIFFICULTIESFINANCIAL INTERMEDIATIONFINANCIAL MANAGEMENTFINANCIAL RESOURCESFINANCIAL SUPPORTFISCALFISCAL COSTSFISCAL DECENTRALIZATIONFISCAL DEFICITFISCAL DEFICITSFISCAL POLICIESFISCAL POLICYFISCAL STANCEFISCAL SUSTAINABILITYFISCAL TRANSPARENCYFOREIGN CURRENCY DEPOSITSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE POLICIESFOREIGN INVESTMENTFOREIGN RESERVESGOVERNMENT AGENCIESGOVERNMENT SPENDINGGROSS DOMESTIC PRODUCTHEALTH SERVICESINFLATIONINSOLVENTINSOLVENT BANKSINSTITUTIONAL FRAMEWORKLABOR MARKETLAWSLEGAL ENTITIESLEGISLATIONLEVELS OF GOVERNMENTLIQUIDATIONLOCAL GOVERNMENTSLONDON CLUBMARKET DISCIPLINEMINISTRY OF FINANCEMONETARY POLICIESNATIONSPENSIONSPOLITICAL INTERFERENCEPREFERENTIAL TAX TREATMENTPRESIDENCYPRIVATIZATIONPRODUCTIVITYPROPERTY RIGHTSPUBLIC DEBTPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE REFORMPUBLIC EXPENDITURESPUBLIC FINANCEPUBLIC FINANCE SYSTEMPUBLIC FUNDSPUBLIC HEALTHPUBLIC HEALTH EXPENDITUREPUBLIC PROCUREMENTPUBLIC SECTORPUBLIC SECTOR DEFICITPUBLIC SERVICEPUBLIC SERVICE EMPLOYMENTPUBLIC SERVICESPUBLIC SPENDINGPUBLIC TRANSPORTATIONREPRESENTATIVESREPUBLICSRETIREMENTREVENUE PERFORMANCESALES TAXESSHORT-TERM DEBTSOCIAL INSURANCESOCIAL POLICIESSOCIAL PROGRAMSSOCIAL PROTECTIONTAXTAX COLLECTIONTAX COMPLIANCETAX RATETAX REVENUESTAX SYSTEMTRANSITION ECONOMIESTREASURYUTILITIESWAGESWATER SUPPLY PUBLIC EXPENDITURES; INSTITUTIONAL ANALYSIS; INSTITUTIONAL CAPACITY; FEDERAL GOVERNMENTS; REFORM POLICY; REFORM IMPLEMENTATION; PUBLIC SPENDING; ALLOCATION OF GOVERNMENT RESOURCES; GROWTH PROMOTION; WELFARE ECONOMICS; FISCAL CONSOLIDATION; POST-CONFLICT RECONSTRUCTION; FISCAL CONSTRAINTS; BUDGET MANAGEMENT; GOVERNMENT ACCOUNTING STANDARDS; GOVERNMENTAL REFORMWorld Bank10.1596/14823