Environmental expenditures and their financing

The increased government revenues associated with improving overall economic conditions since the first Environmental Performance Review (EPR) have made it possible to increase public environmental protection expenditures, not only in nominal but also in real terms, i.e. (adjusted for inflation). Yet despite their more or less steady growth since 2002, the current level of these expenditures is dwarfed by the magnitude of the environmental problems to be addressed and the considerable investments required for improving and extending the environmental infrastructure. There is also an urgent need to strengthen the public institutions tasked with designing effective environmental policies and to ensure their monitoring and enforcement. An important step forward in this direction was the establishment of the Environmental Protection Fund, which became operational in May 2005.

Related Subject(s): Environment and Climate Change

Countries: Serbia