## Republic of Serbia: Technical Assistance Report-Fiscal Transparency Evaluation

_Technical Assistance Reports, August 21, 2026_

## Source details

**Canonical URL:** [Republic of Serbia: Technical Assistance Report-Fiscal Transparency Evaluation](https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/08/21/republic-of-serbia-technical-assistance-report-fiscal-transparency-evaluation-578987)

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## Bibliographic details
- Published: August 21, 2026
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229057981.019

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### Evaluation scope and context
- Report presents findings of the Fiscal Transparency Evaluation conducted for Serbia at the request of the Ministry of Finance.
- The evaluation assesses Serbia’s fiscal transparency practices against the requirements of the IMF Fiscal Transparency Code.
- Publication date: August 21, 2026.
- Pages: 70
- Volume: 2026
- Issue: 063
- Series: Technical Assistance Report No. 2026/063
- DOI: https://doi.org/10.5089/9798229057981.019
- Stock No: TAREA2026063
- ISBN: 9798229057981
- ISSN: 3005-4575

### Main findings
- Strongest practices:
  - First two pillars: fiscal reporting; and fiscal forecasting and budgeting.
- Weaker performance:
  - Third pillar: fiscal risk management, reflecting ongoing reform efforts in this area.
- Reporting and disclosure gaps:
  - Need for more comprehensive and timely fiscal reports that better disclose the government’s financial performance.
  - Specific gaps highlighted include reconciling financing with changes in debt and quantifying tax expenditures.
- Budget coverage and medium-term planning:
  - Budget coverage should be expanded to include the remaining extrabudgetary funds.
  - The effectiveness of medium-term budgeting should be strengthened.
- Forward-looking analysis:
  - More forward-looking analysis of vulnerabilities in public finances would support better-informed decision-making.
  - Areas mentioned for forward-looking scrutiny include obligations related to public corporations, and long-term pension and health spending pressures.

### Policy recommendations (implied by evaluation findings)
- Enhance fiscal reporting:
  - Produce more comprehensive and timely fiscal reports.
  - Reconcile financing flows with changes in public debt.
  - Quantify and disclose tax expenditures.
- Broaden budget coverage:
  - Bring remaining extrabudgetary funds within the budget perimeter to improve transparency and comprehensiveness.
- Strengthen medium-term budgeting:
  - Improve the effectiveness of medium-term budgeting frameworks to support fiscal sustainability.
- Improve fiscal risk management:
  - Advance reforms to strengthen the management and disclosure of fiscal risks under the third pillar.
- Conduct forward-looking vulnerability analysis:
  - Systematically assess and disclose long-term pressures, including those from public corporations, pensions, and health spending.

### Thematic subjects and keywords
- Subjects: Economic and financial statistics; Expenditure; Fiscal reporting; Fiscal risks; Government finance statistics; Public debt; Public financial management (PFM).
- Keywords: authoring department; authorities of Serbia; Budget planning; Eastern Europe; Europe; Expenditure; financial asset; Financial statements; Fiscal reporting; Fiscal risks; Fiscal Transparency; General government; Global; Government finance statistics; Public financial management (PFM).; Republic of Serbia denar; Southern Africa; Statistical office; transparency Serbia

*International Monetary Fund. Fiscal Affairs Dept. "Republic of Serbia: Technical Assistance Report-Fiscal Transparency Evaluation", Technical Assistance Reports 2026, 063 (2026), DOI: https://doi.org/10.5089/9798229057981.019*

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_Source: https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/08/21/republic-of-serbia-technical-assistance-report-fiscal-transparency-evaluation-578987_