European Union External Action

2017 Economic Reform Programmes of Albania, the former Yugoslav Republic of Macedonia, Montenegro, Serbia, Turkey, Bosnia and Herzegovina and Kosovo*: The Commission's Overview and Country Assessments

07/06/2017 - 14:16

Economic governance has become one of the three key aspects of the EU enlargement process over recent years, mirroring moves in the EU to strengthen economic policy coordination and multilateral surveillance under the European Semester.

In its 2013 and 2014 enlargement strategies the Commission outlined a new approach to economic governance. It involved clearer guidance on the reforms needed to foster macroeconomic stability, deliver fiscal sustainability and support long-term growth and competitiveness. In the same vein, the Economic and Financial Dialogue between the EU and the Western Balkans and Turkey has provided targeted policy guidance for each enlargement country since 2015.

This dialogue is based on medium-term Economic Reform Programmes (ERP) submitted annually by enlargement countries. The ERPs include a macroeconomic and fiscal policy framework as well as structural reform plans to boost competitiveness and long-term growth. The ERP exercise also aims to help enlargement countries develop their institutional and analytical capacities and to prepare them for participation in the EU’s multilateral surveillance and economic policy coordination procedures once they become Member States of the EU.

In 2017, enlargement countries submitted their third annual Economic Reform Programmes covering the period 2017-20191. They have been assessed by the European Commission and the European Central Bank. Based on these assessments, Joint Conclusions with country-specific policy guidance2 were agreed and adopted at the Economic and Financial Dialogue between the EU and the Western Balkans and Turkey. The dialogue was held in the margins of the Economic and Financial Affairs Council meeting of 23 May 2017.

This paper contains the Commission staff’s assessment of the ERPs for 2017-2019 submitted by Albania, Bosnia and Herzegovina, the former Yugoslav Republic of Macedonia, Kosovo*, Montenegro, Serbia and Turkey.

The assessment also takes stock of the implementation of the country-specific policy guidance adopted last year. The cut-off date for the assessment was 12 April 2017. The assessment reflects joint work by Commission staff from several Directorates-General. In particular, DG ECFIN analysed the macroeconomic and fiscal frameworks; DG NEAR was responsible for assessing structural reforms; while DG EMPL covered employment and social policy-related aspects.

On this link you can find report.

* This designation is without prejudice to positions on status, and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

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