Munich Personal RePEc Archive

"Public Debt in Southeast Europe” – Why to enable public participation?

Trenovski, Borce and Mijovic-Spasova, Tamara (2018): "Public Debt in Southeast Europe” – Why to enable public participation? Published in: Balkan Monitoring Public Finances (2018)

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Abstract

The objective of the study is to analyze various policies, regulation and legislation regarding public debt and processes of the situation in the public finance field, to recognize key problems, propose solutions and advocate for change, with a special focus on monitoring of public finance. Often debt does not serve the needs of the citizens and puts limitations on democracy in a sense that does not imply involvement of citizens and NGOs in the process of decision making in the area of public finances and at the same time is characterized by a low level of transparency. Hence, the study will identify problems in implementation of the existing legislation or identify lack of necessary legislation. This will be the basis for proposing policy recommendations regarding monitoring of public finance for the covered countries and advocating for them. The study analyzes the recent debt trends in Bosnia and Herzegovina, Bulgaria, Kosovo, Macedonia, Montenegro, Serbia, and Slovenia with the aim of warning about possible problems with long-term debt sustainability. It is very important to detect debt vulnerabilities and to react in a timely manner.

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