COMPARATIVE ANALYSIS OF PUBLIC ENTERPRISE MANAGEMENT IN THE REPUBLIC OF SERBIA

Abstract

The results of a comparative study of the effects of state and
public enterprise management in transition economies have classified
Serbia as a group of countries with inefficient management. Transition
countries, members of the EU, achieve better management performance
of state-owned enterprises than non-EU countries, due to stronger
institutions, efficient state aid rules, as well as greater transparency of
budget support. The global pandemic in 2020 and increased health,
economic and social risks, in many transition countries have not
affected the slowdown of structural reforms in public enterprises, on the
contrary, a special focus was directed towards upgrading the
mechanisms of management of public enterprises, strengthening the
anti-corruption policy, digitalization of state services, etc. The research
of the reform balance of the management of large republican public
infrastructure enterprises in the Republic of Serbia has shown that the
state has major problems in the management of enterprises that are in
its portfolio and under its control. Their business poses a permanent
budget risk, directly affecting economic growth and key macroeconomic
aggregates. Large infrastructure public enterprises have a dominant
share in the energy and transport sectors, which affects the business of
the entire economy. The balance of their business in the period of
economic boom is in increasing discrepancy with the balance of
business of the private sector, which clearly indicates the problem of
management. The primary reform task in the management of public
enterprises is to improve the accountability, transparency and efficiency
of their management.