Mar 7, 2017

Contributing to Strengthening Economic Governance in South East Europe

The European Commission is launching Open Public Consultations (OPC) with stakeholders and the general public in the field of External Relations and European Neighborhood Policy. Readers are warmly encouraged to share their views in these consultations.

In the current Enlargement Strategy, the Commission has identified economic governance as one of the key challenges for the Western Balkan countries and Turkey, on their path towards EU accession. The economic and financial crisis, which has affected many emerging markets, including in the region, has underscored the key role that strongly anchored medium-term economic and fiscal frameworks need to play in helping the region's economies apply international standards. 

As South East European (SEE) countries pursue to strengthen governance for growth, and work towards EU accession and convergence, they face challenges in developing and implementing effective macroeconomic and fiscal policies. The thematic evaluations, open to all citizens in EU member and pre-accession countries, therefore aim to better inform the EU's efforts for economic governance in those countries.

At the CEF, we recognize the importance to contribute to strengthening economic governance in SEE. Upon the initiative of our constituency in 2008, we have started to capture and serve related learning needs, e.g. by implementing our Fiscal Impact Assessment of Structural Reforms project in the framework of our long-term program Building Capacities for Policy Design and Implementation effort. The project was supported by the WB SAFE Trust Fund (established by the EU and SECO), and collected case studies prepared by local experts from SEE. 

In follow up, we started in 2013 delivering our EU-funded project on Strategic Planning and Budgeting that helped strengthen the design and implementation of medium-term macroeconomic and fiscal policy, with the aim to contribute to better economic governance. Until successful conclusion in 2015, we delivered 21 regional learning and networking activities to more than 400 participants. 

In the past two years, we also co-facilitated various regional seminars in the framework of the IMF FAD's EU-funded program on Strengthening Economic Governance and Public Financial Management. We are currently strengthening cooperation with SEE line ministries in support of their internal and external coordination and through a series of learning activities and country visits.