Brussels, 8 November 2023 (MIA) - The European Commission adopted on Wednesday a new Growth Plan for the Western Balkans, with the aim of bringing some of the benefits of membership to the region in advance of accession, boost economic growth and accelerate much needed socio-economic convergence.

"The objective should be to enable partners to step up reforms and investments to significantly accelerate the speed of the enlargement process and the growth of their economies," reads the press release. 

The new Growth Plan for the Western Balkans is aimed at enhancing economic integration with the European Union's single market, boosting economic integration within the Western Balkans through the Common Regional Market based on EU rules and standards, accelerating fundamental reforms, and increasing financial assistance to support the reforms through a Reform and Growth Facility for the Western Balkans for the period 2024-2027.

According to the European Commission, as part of the Growth Plan, every Western Balkan partner will be invited to prepare a Reform Agenda based on existing recommendations including from the annual Enlargement Package and the countries' Economic Reform Programmes (ERP). 

The Reform Agenda will be consulted with, assessed and adopted by the Commission.

Photo: MIA archive