EU Economic and Financial Dialogue with Western Balkans and Turkey: Deepening economic and social reforms

The annual Economic and Financial Dialogue with the EU, the Western Balkans and Turkey has taken place in Brussels. The EU, the Western Balkans partners and Turkey adopted joint conclusions based on the countries' Economic Reform Programmes agreeing to deepen economic and social reforms in order to improve the economy and boost competitiveness and inclusive growth.

Euro and Social Dialogue Vice President Valdis Dombrovskis, also in charge of financial stability, financial services and Capital Markets Union, said: "The Economic Reform Programmes and today's high level dialogue are there to help our partner countries trigger more ambitious reforms. While progress achieved is welcome, more efforts are needed to improve fiscal frameworks and public finances, deepen macro-economic stability and support a shift to a more growth-friendly public spending."

European Neighbourhood Policy and Enlargement Negotiations Commissioner Johannes Hahn added: "Today all seven partners committed themselves to deepen economic and social reforms with the overall aim of boosting competitiveness and growth. The focus should now be on the vigorous implementation of these reforms so that people in the region can see tangible results: more and better jobs and more inclusive growth". The jointly adopted policy guidance is based on Economic Reform Programmes (ERPs), which the authorities prepare annually and submit to the European Commission; similar to what EU member states do in the European Semester. The ERPs play a key role in improving economic policy planning and steering reforms to boost competitiveness and improve conditions for inclusive growth and job creation.

More information is available here.

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