World Bank2013-08-012013-08-012003-02https://hdl.handle.net/10986/14770This 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-CORRUPTION STRATEGYAUDITINGBANK RESTRUCTURINGBANK SUPERVISIONBANKING SECTORBANKING SYSTEMBANKRUPTCYBANKRUPTCY PROCEDURESBUDGET DEFICITBUDGET FORMULATIONBUDGET MANAGEMENTBUDGET SYSTEMCENTRAL BANK FUNCTIONSCENTRAL GOVERNMENTCENTRAL GOVERNMENT SPENDINGCITIZENSCIVIL SERVICECOMMERCIAL BANKSCREDITWORTHINESSDEBT FINANCINGDEBT SERVICEDEFAULT RISKDEPOSITSDOMESTIC BORROWINGEBFECONOMIC GROWTHECONOMIC POLICIESECONOMIC SHOCKSELECTRICITYENTERPRISE RESTRUCTURINGEVASIONEXECUTIONEXPENDITURE REFORMFEDERAL GOVERNMENTFINANCIAL ACCOUNTABILITYFINANCIAL ASSISTANCEFINANCIAL BENEFITSFINANCIAL DISCIPLINEFINANCIAL INTERMEDIATIONFINANCIAL MANAGEMENTFINANCIAL REPORTINGFINANCIAL RESTRUCTURINGFINANCIAL SECTORFINANCIAL SECTORSFISCALFISCAL CONTROLFISCAL DEFICITFISCAL DEFICITSFISCAL GAPFISCAL GAPSFISCAL POLICIESFISCAL PROBLEMSFISCAL REFORMFISCAL STANCEFISCAL SUSTAINABILITYFISCAL YEARFOREIGN BORROWINGFOREIGN DEBTGOVERNMENT AGENCIESGOVERNMENT DEBTGOVERNMENT EXPENDITURESGOVERNMENT INTERVENTIONGOVERNMENT LEVELGROSS DOMESTIC PRODUCTHEALTH SERVICESHEALTH SPENDINGINFLATIONINSOLVENTINSOLVENT BANKSINSTITUTIONAL CAPACITYINTEREST COSTSINTEREST RATESLACK OF ACCOUNTABILITYLEGISLATIONLIQUIDATIONLOCAL GOVERNMENTSMACROECONOMIC PERFORMANCEMACROECONOMIC STABILITYMINISTRY OF FINANCEMUNICIPALITIESPENSIONSPRIVATE SECTORPRIVATIZATIONPROVISIONSPUBLIC DEBTPUBLIC EMPLOYMENTPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE REFORMPUBLIC FINANCEPUBLIC HEALTHPUBLIC INSTITUTIONSPUBLIC INVESTMENTPUBLIC PROCUREMENTPUBLIC PROCUREMENT ACTPUBLIC SECTORPUBLIC SERVICEPUBLIC SERVICESPUBLIC SPENDINGPUBLIC TRANSPORTATIONRATIONALIZATIONRESERVE REQUIREMENTRETIREMENTSAVINGSSOCIAL ASSISTANCESOCIAL EXPENDITURESOCIAL INSURANCESOCIAL PROGRAMSSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SERVICESSTATE SUBSIDIESTAXTAX ADMINISTRATIONTAX BURDENTAX COMPLIANCETAX LAWSTAX RATESTAX REVENUETAX REVENUESTAXATIONTECHNICAL ASSISTANCETRANSPARENCYTREASURYUTILITIESVOUCHER PRIVATIZATIONWAGESWATER SUPPLY PUBLIC EXPENDITURESINSTITUTIONAL ANALYSISINSTITUTIONAL CAPACITYFEDERAL GOVERNMENTSREFORM POLICYREFORM IMPLEMENTATIONPUBLIC SPENDINGALLOCATION OF GOVERNMENT RESOURCESGROWTH PROMOTIONWELFARE ECONOMICSFISCAL CONSOLIDATIONPOST-CONFLICT RECONSTRUCTIONFISCAL CONSTRAINTSBUDGET MANAGEMENTGOVERNMENT ACCOUNTING STANDARDSGOVERNMENTAL REFORMWorld Bank10.1596/14770