Reform of accountancy within Serbia's public sector begins

The presentation of the project of the reform of accountancy within the public sector, organized by the Ministry of Finance, marks the beginning of the implementation of one of the key reforms in the field of public finance management.

The funds of CHF 1,350,000 have been donated by the Swiss government with the aim of enhancing the quality of accountancy and financial reporting within the public sector in Serbia through a gradual transfer to accrual-based accounting, says a press release by the World Bank, which will administrate the project and provide support to the Ministry of Finance in its implementation.

As a result, budget reporting will include, in addition to budget income and expenditures, reliable data on the property, liabilities and debts, thereby contributing to an improvement of budget funds management.

The presentation of the project was attended by Swiss Ambassador Philippe Guex and the head of the WB office in Serbia, Stephen Ndegwa.

Ministarstvo finansija Republike Srbije

Government of Switzerland

Svetska Banka-WB Beograd

Ambasada Švajcarske Beograd

Swiss government

reform of accountancy in the public sector

public finance management

public finance

financial reporting

accountancy

budget reporting

Philippe Guex

Stephen Ndegwa