In the new report by the United States Department of State, Western Balkan countries, namely Albania, Serbia, Montenegro, Kosovo, Bosnia and Herzegovina, and North Macedonia are ranked among countries that meet the minimum requirements of fiscal transparency.

The report highlights that out of 140 assessed countries, 72 meet the minimum requirements of fiscal transparency.

Regarding those that do not meet the requirements, the report states that 25 countries have made significant progress towards fulfilling these requirements.

“Fiscal transparency is a key element of effective public finance management and helps build confidence in the market,” the U.S. Department of State’s report, published on June 27, states.

“The minimum requirements of fiscal transparency include the possession of budget documents that are available to the public, substantially complete, and generally reliable,” the report further states.

The report covers the period from January 1 to December 31, 2022.

The assessment took into account information from U.S. embassies and consulates, international organizations, and civil society organizations.

Read the report here.