This departmental paper investigates how countries in Central, Eastern, andSoutheastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities. Researchhas shown that fiscal transparency is critical to effective fiscal managementand accountability, which in turn reduces opportunities for corruption andraises the political costs of unsustainable policies. In recent years, lack of fiscaltransparency has contributed to periods of macroeconomic stress and sovereign debt crises in European countries