This initial study provides overview of levels and structure of climate change related expenditures and recommendations for introduction of climate budget tagging.
The study represents another step toward achieving objectives that Serbia is pursuing through the international CC agenda and compliance with the EU climate policy. It is a diagnostic assessment designed to measure the degree to which the local Public Financial Management (PFM) system and all of its associated sub-components are capable to support the fulfilment of CC related policy objectives in the country through efficient tracking of climate change expenditure. The study is providing analytical foundations for reform in the domain of building the necessary capacities as well as more effective human and financial resources allocation to achieve better CC performance. The aim is to provide better understanding of how much government spends on CC, assess the visibility of CC financing in the budgets and provide directions on how to enable better tracking of the CC spending to contribute to increased performance of CC policy agenda.