Oct 16, 2017

Harmonization of Budgets and Economic Reform Programmes

The CEF addresses fiscal effects of structural reform policy measures contained in the Economic Reform Programmes (ERPs) through various learning initiatives, that aim to contribute to their more effective planning, coordination and implementation. In response to the needs raised by officials authoring ERPs, article on Harmonization of Budgets and Economic Reform Programmes was prepared with the objective to provide additional guidance based on the good practices identified in the South East Europe region.

The ERP presents economic fundamentals of the candidate and potential candidate countries for meeting the economic accession criteria and basis for their economic dialogue with the European Union. This document contains medium-term macroeconomic and fiscal framework, as well as a structural reform agenda describing key sectorial reforms aimed at boosting competitiveness, growth and job creation.

The article on Harmonization of Budgets and Economic Reform Programmes prepared by Tijana Stanković, Former Advisor to Montenegrin Vice Prime Minister for Economic Policy and Financial System, considers the timeline of drafting the ERP in realistic circumstances, and clarifies the roles and responsibilities of different institutions involved in this process. Moreover, this article provides guidance to ERP Coordinators and authors by describing how the process of ERP development should be optimally linked with the preparation of national budgets.