This report summarizes the findings of areview of public investment management (PIM) practices inthe Western Balkans carried out with an eye to improvingpractices over the medium term, sharing experiences on aregional basis, providing some initial specificrecommendations and identifying areas for more intensivefurther analysis. Following this introduction, the secondsection of the main report examines capital expendituretrends in the study countries. The third section provides anoverview of the findings across the six countries. Thefourth section provides potential drill-down topics for thefurther analysis. The fifth and final section brieflyoutlines the methodology used in the individual countrystudies. The study has revealed frequent weaknesses in theinstitutional arrangements for public investment management,although in most cases things are moving in the rightdirection. Box one set out some stylized guidelines on goodpractice for institutional arrangements for publicinvestment management, based on what is commonly found inOECD countries. The box describes systems involving asingle, integrated budgeting process for capital andrecurrent expenditure, within which capital expenditure isclearly distinguished from current expenditure because ofits particular characteristics.
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