Transparent and appropriate public finance management is a key factor for economic and sustainable development of societies. Budget Inspections play a significant role in ensuring the integrity and efficiency of this process. This research paper analyses the role of the Budget Inspection in Montenegro, comparing it to models from the region.
The research objective is to understand how Montenegro takes on challenges related to public finance management and what it can learn from practices of other countries in the region. Through analysis of these experiences, the research paper aims to provide relevant recommendations for improving the work of the Budget Inspection in Montenegro, and to contribute to a wider understanding of the role of these institutions in promoting transparent and responsible management of public funds. The analysis of the work of Budget Inspections contains detailed scrutiny of different aspects of the context in which they operate, including the legal framework and evidence from practice.
Countries covered by this analysis include Serbia, Bosnia and Herzegovina, Croatia, North Macedonia and Slovenia. Analysis of the legal framework and experience of Budget Inspections in the region revealed that Montenegro’s performance in this area is subpar. Some countries in the region committed far more resources to the development of Budget Inspections. These circumstances require thorough analysis and careful consideration in order to identify key challenges and adopt best practices from the region.Learning from experiences of neighbouring countries and applying best practices can be a step toward achieving greater efficiency and transparency in budget management, thereby contributing to improved development of society and the economy.
