Publications
New Growth Plan for the Western Balkans, EN language
- European Union
- 2023
- Western Balkan
The European Commission's "New Growth Plan for the Western Balkans" reaffirms the EU's commitment to the region's integration, emphasizing that full EU membership for the Western Balkans is in the Union's political, security, and economic interests. The ongoing war in Ukraine underscores the need for a stable and united Europe, making the acceleration of the Western Balkans' EU accession more urgent. The plan focuses on four main pillars: Economic Integration with the EU Single Market: The Western Balkans will be encouraged to align with EU market rules, opening up sectors and fostering integration within the region under the Common Regional Market. Boosting Regional Economic Integration: Strengthening economic ties within the Western Balkans could potentially add 10% to their economies. Accelerating Fundamental Reforms: Key reforms will be promoted to support EU membership, enhance economic growth, attract foreign investment, and improve regional stability supporting the Western Balkans' path towards EU membership, improving sustainable economic growth including through attracting foreign investments and strengthening regional stability. Increasing Financial Assistance to support the reforms through a Reform and Growth Facility for the Western Balkans: A new Reform and Growth Facility worth €6 billion will support these reforms, with funding contingent on progress in socio-economic changes. The plan aims to stimulate economic convergence with the EU, modernize economies, improve infrastructure, and create a favorable environment for investment, which will also help reduce emigration. By providing benefits ahead of full EU membership, the plan seeks to accelerate the enlargement process, overcoming regional challenges and fostering a shared future within the EU. The growth plan builds on the existing enlargement methodology, offering a more dynamic path towards integration and development.
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