Western Balkans - Public Investment Management Study : Main Report

Abstract

This report summarizes the findings of a
 review of public investment management (PIM) practices in
 the Western Balkans carried out with an eye to improving
 practices over the medium term, sharing experiences on a
 regional basis, providing some initial specific
 recommendations and identifying areas for more intensive
 further analysis. Following this introduction, the second
 section of the main report examines capital expenditure
 trends in the study countries. The third section provides an
 overview of the findings across the six countries. The
 fourth section provides potential drill-down topics for the
 further analysis. The fifth and final section briefly
 outlines the methodology used in the individual country
 studies. The study has revealed frequent weaknesses in the
 institutional arrangements for public investment management,
 although in most cases things are moving in the right
 direction. Box one set out some stylized guidelines on good
 practice for institutional arrangements for public
 investment management, based on what is commonly found in
 OECD countries. The box describes systems involving a
 single, integrated budgeting process for capital and
 recurrent expenditure, within which capital expenditure is
 clearly distinguished from current expenditure because of
 its particular characteristics.