Analysis of public-private partnership projects in Serbia

Abstract

The concept of public-private partnership (PPP) (Public-Private Partnership - PPP) in the last few decades have become a very desirable way of financing the construction, maintenance and operation of public infrastructure and provision of public services, activities that traditionally belong to the public sector. As there is constant need for improvement of public services and lack of funds, PPP emerges as a possible wayof solving the problem of financing the development. In countries in transition, such as Serbia, especially during periods of recession and fiscal restrictions, PPP takes onor at least it should gain in importance. Will the concept of PPP be used to the desired extent depends on a number of very different factors such as: the capacity of professional sector, political environment, economic policy, market conditions, macroeconomic stability, institutional framework, the quality of legal system. The impact of some of these factors on PPP will be analyzed in this paper with more attention paid to the legal system which represents a backbone for successful partnerships.