Current

Fiscal and economic trends in 2018 and strategic recommendations for 2019 budget

October 22, 2018

Budget for 2019 should systematically regulate public finance, improve their structure and support economic growth. Thanks to Government measures and some favourable external circumstances, Serbia implemented a successful fiscal consolidation - from a fiscal deficit amounting to 2.2 bn Euros in 2014, we’ve arrived at a surplus in 2017 and 2018, while the public debt has been decreased from over 70% to under 60% of GDP. Now, with the ... Read more

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Investments in enviromental protection: a social and fiscal priority

July 9, 2018

Serbia is one of the most polluted countries in Europe - which puts the health of the population at risk, shortens life expectancy, decreases the quality of life and leads to uneven regional development. It is the opinion of the Fiscal Council that the public finances would have to face this issue without delay, i.e. that the 2019 budget should already allocate far greater funds for ... Read more

Wages in general government: Current state and guideline for reform

June 13, 2018

Serbia needs a comprehensive reform of the general government wage and employment system, and in this study the Fiscal Council shall provide guidelines and recommendations for its implementation. A regulated wage and employment system and an adequate number of professionals employed are cornerstones of fiscal sustainability and modern and efficient state ... Read more

Going forward: Public sector reforms and locking-in balanced budget in Serbia

March 2, 2018

From an enormous fiscal deficit in 2014 (6.6% of GDP, i.e. 2.2 bn euros), Serbia practically reached a structurally balanced budget in 2017. However, indisputable achievements aside, the implemented fiscal consolidation has numerous weaknesses (absence of reforms, greater reliance on revenues than on savings). This is why public finances in Serbia, regardless of its excellent ... Read more

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