Budget System Reform in Transitional Economies: The Case of the Former Yugoslav Republics

December 1, 2003

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Jack Diamond, and Duncan P Last. Budget System Reform in Transitional Economies: The Case of the Former Yugoslav Republics, (USA: International Monetary Fund, 2003) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

For the republics of the former Socialist Federal Republic of Yugoslavia (SFRY) as for many other transition economies, an important step in introducing a more market-oriented system was the restructuring of their budget systems. This paper reviews and evaluates the process of budget system reform during the transition period extending from the time they emerged from the collapse of the SFRY in 1989 until the end of 2002. For at least a decade of this period, the Fiscal Affairs Department of the IMF has been providing technical assistance (TA) to these countries to facilitate such reforms. Based on the material generated by this effort, the authors offer a review of the progress made and an assessment of the reform elements still to be completed. Given that the former Yugoslav republics all commenced the reform process with the same institutions, this paper offers a unique opportunity to analyze the critical elements in successful budget system reform. An attempt is made to explain the varying degrees of success experienced by different countries, and a reform agenda is suggested to guide future TA.

Subject: Budget execution and treasury management, Budget planning and preparation, Central government spending, Expenditure, Fiscal accounting and reporting, Public financial management (PFM)

Keywords: Banking arrangement, Budget execution, Budget execution and treasury management, Budget planning and preparation, Budget Reform, Cash management, Central government spending, Fiscal accounting and reporting, Global, Government institution, Government operation, Government payment, MFERAC information system, Payment order, Submission system, WP, Yugoslavia

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2003/247
Stock No:

WPIEA2472003
ISBN:

9781451875881
ISSN:

1018-5941

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