Transparency Serbia warns of lack of budget transparency

It said that a draft budget should include a detailed description of fiscal risks, provide more data on assets and liabilities, tax expenditures, earmarked revenues, as well as the long-term sustainability of public finances. “It is also necessary to improve financial reporting and comparisons between initial macroeconomic forecasts and actual outcomes – through more detailed presentation of program-based expenditures, the structure of public debt, and expenditure classification,” it added.