Establishing a Fiscal Risk Management Department in the Ministry of Finance of Serbia
While current legislation in Serbia covers some fiscal risks and some aspects of how to manage them, important gaps remain in the country’s fiscal risk management framework. Based on discussions at a workshop on fiscal risk management held in Serbi...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/135671490766760364/Establishing-a-fiscal-risk-management-department-in-the-Ministry-of-finance-of-Serbia http://hdl.handle.net/10986/26421 |
| Summary: | While current legislation in Serbia
covers some fiscal risks and some aspects of how to manage
them, important gaps remain in the country’s fiscal risk
management framework. Based on discussions at a workshop on
fiscal risk management held in Serbia in March 2016,
stakeholders from across the government have agreed on the
need to establish a Fiscal Risk Management Department (FRMD)
within the Ministry of Finance. The stated objective of the
new department would be to strengthen fiscal risk management
and coordination across the government. Specifically, the
responsibilities of the department would include (i)
ensuring that fiscal risks are properly identified,
quantified, monitored, mitigated, and disclosed, and
collecting all available information and analysis relevant
for fiscal risk management; (ii) providing advice to the
minister of finance on issues of fiscal risk and
recommending actions to mitigate risks; and (iii)
coordinating all government entities that are involved in or
relevant for fiscal risk management |
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