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Inspired by the European Semester process at EU level, the European Union introduced a new approach to the economic governance in the Enlargement Strategy. Main objective of this approach is to help the enlargement countries tackle the economic fundamentals so as to meet the economic accession criteria. This approach means a significant change in the dialogue on the economic policies and better reporting to the end of providing clearer instructions for the reforms necessary for supporting long-term economic growth and competitiveness.
As of 2015, the Western Balkan countries, among which the former Yugoslav Republic of Macedonia as well, have been invited to improve their economic policies and economic governance by preparing annual Economic Reform Programmes (ERP). The ERP exercise also aims to help enlargement countries develop their institutional and analytical capacities and prepare them for participation in the EU’s multilateral surveillance and economic policy coordination procedures once they become Member States.
The ERPs of Western Balkan countries and Turkey are subject to discussion at the Economic and Financial Affairs Council annual economic policy dialogue meeting. The meeting, is attended by Representatives of the EU Member States, the Western Balkans and Turkey, the European Commission and the European Central Bank, as well as representatives of the central banks of the Western Balkans and Turkey met for their annual economic policy dialogue.
Economic Reforms Programme 2016-2018 is the second document of this type prepared by the country in line with the instructions given by the European Commission (EC). Programme shows the medium-term macroeconomic and fiscal framework, as well as the sectoral structural reforms for promoting both competitiveness and growth. The Economic Reforms Programme 2017-2019 has been drafted, discussed with relevant stakeholders and is expected to be made available for public early February 2017.
Disclaimer: This document was prepared by the national authorities of the former Yugoslav Republic of Macedonia. The use of the name of the country by national authorities cannot be interpreted as acceptance or recognition by the European Commission in whatever form or content of any country denomination other than the former Yugoslav Republic of Macedonia