世界银行-塞尔维亚公共财政评论：高收入塞尔维亚的财政政策（英）

Fiscal Policy for a High-Income SerbiaPublic Finance ReviewPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedFiscal Policy for a High-Income SerbiaPublic Finance Review© 2025 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved.This work is a product of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does not assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, links/footnotes and other information shown in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. The citation of works authored by others does not mean the World Bank endorses the views expressed by those authors or the content of their works. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Attribution: Please cite the work as follows: “World Bank. 2025. Serbia Public Finance Review: Fiscal Policy for a High-Income Serbia. © World Bank.” Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; email: pubrights@worldbank.org. Cover photo: holgs/istockphoto.comCover & report design: Kane Chong2Serbia Public Finance Review – Fiscal Policy for a High-Income SerbiaAcknowledgments Abbreviations and AcronymsList of Figures, Tables, and BoxesSummaryChapter 1. Strong Macroeconomic Foundations Provide a Sound Basis for Fiscal Policy1.1 Recent economic developments helped to consolidate public finances1.2 The current fiscal stance and outlook are sustainable1.3 Several fiscal risks need careful management1.4 Fiscal policy played an important role in economic recovery1.5 Policy implications and recommendationsChapter 2. Strengthening Revenues and Enhancing Equity2.1 Recent revenue performance was strong2.2 Revenue performance assessment2.3 The progressivity of the tax system could be improved2.4 The buoyancy of the Serbian tax system is comparable to its peers2.5 The produ