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Ekonomika preduzeća
2018, vol. 66, iss. 1-2, pp. 1-17
article language: English
document type: Invited Paper
published on: 03/05/2018
doi: 10.5937/EKOPRE1802017V
Serbia beyond fiscal consolidation: A quest for dynamic, sustainable, inclusive growth
Ministry of Finance, Government of the Republic of Serbia, Belgrade + University Singidunum, Faculty of Economics, Finance and Administration - FEFA, Belgrade

Project

Advancing Serbia's Competitiveness in the Process of EU Accession (MESTD - 47028)

Abstract

The fifth fiscal consolidation in Serbia was based on a comprehensive, multi-year program built on broad-based expenditure cuts, better revenue performance, and related structural reforms and pro-growth policies. The program exceeded all planned fiscal results (both nominal and structural) and had a beneficial impact on economic growth. To sustain macro-fiscal results and prepare the basis for dynamic, sustainable and inclusive long run growth, pending institutional and structural reforms must be completed, supplemented by a set of carefully designed and well implemented pro-development and pro-growth policies. In addition, improved competitiveness, enhanced capabilities and stronger connectedness are needed to respond to challenges of new technologies and changing global patterns.

Keywords

References

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