The representative of the Ministry of Finance and Economy, Marinko Bosnjak, said that public finance sustainability has an institutional aspect, determined by the Law on the Budget System, and a fiscal aspect, determined by the Fiscal Strategy as a medium-term strategic document. Bosnjak stressed that public finance sustainability is achieved through a fiscal consolidation programme, stimulation of economic growth and implementation of structural reform.
Sasa Randjelovic, fiscal policy expert and assistant at the Faculty of Economics, spoke of the factors of public finance sustainability in Serbia in the medium term. He presented the structure of the public sector in Serbia to the Committee members and an analysis of the impact of the size and structure of the public sector on the state’s economic results. Randjelovic also spoke of the causes and effects of the debtors’ crisis, the factors of public finance sustainability and structural fiscal deficit as the fundamental parameter of public finance sustainability.
The representative of the Ministry of Finance and Economy, Nada Mirkovic, analysed the structure of the budget and the specific categories in the budget of the Republic of Serbia. The Committee members were especially interested in the envisaged obligation of preparing a programme budget starting from 2015.
The seminar is part of the programme of strengthening the capacities of the National Assembly’s working bodies implemented by the National Assembly in partnership with USAID.