The European Commission has introduced a new Growth Plan for the Western Balkans, aimed at extending EU membership benefits to the EU accession countries. The plan would enable the region to step up reforms and investments to accelerate the speed of the enlargement process and the growth of countries’ economies. It includes a proposed 6 billion EUR Reform and Growth Facility for 2024-2027, contingent on agreed reforms. It focuses on four pillars: enhancing economic integration with the EU’s single market, boosting regional economic integration, accelerating fundamental reforms, and increasing financial assistance. It anticipates doubling the Western Balkans’ economy in the next decade by combining reforms and investments. Each Western Balkan partner will develop a Reform Agenda, on existing recommendations including from the annual Enlargement Package and the countries’ Economic Reform Programmes (ERP), subject to Commission consultation and assessment. The proposal is currently awaiting examination by the European Parliament and Council. Read more here.
Source: European Commission