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Fiscal Challenges in Serbia Today - What to do with Privatization Receipts

Author

Listed:
  • Tamara Basic

    (National Bank of Serbia)

Abstract

The paper analyzes the relationship between the privatization receipts and fiscal deficit in Serbia from 2002 to 2007. The empirical study incorporates monthly data series, where findings suggest that the privatization receipts have caused an increase in the country’s budgetary deficit and expenditure, and have thus endangered the long term fiscal position of Serbia. Change in use of privatization receipts is necessary if the fiscal balance is to be kept on track over the longer term. The paper suggests that the privatization receipts should be used for capital investment under conditions of sustained price stability. In case of inflation-related problems, these funds should alternatively be used for repayment of foreign debt. It is also advisable to adopt a methodology for budget presentation which is more transparent with regards to the use of privatization receipts.

Suggested Citation

  • Tamara Basic, 2007. "Fiscal Challenges in Serbia Today - What to do with Privatization Receipts," Working papers 6, National Bank of Serbia.
    • Handle: RePEc:nsb:wppnbs:6
    as

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