As part of the process of economic and fiscal oversight, member states of the European Union (EU) develop documents that ensure multilateral oversight and coordination of economic policies of the EU. With a view to preparing itself for the process in question, in the pre-accession period the Republic of Serbia as a candidate country for […]

As part of the process of economic and fiscal oversight, member states of the European Union (EU) develop documents that ensure multilateral oversight and coordination of economic policies of the EU. With a view to preparing itself for the process in question, in the pre-accession period the Republic of Serbia as a candidate country for the accession to the EU develops a document entitled the Economic Reform Programme (ERP). The Republic of Serbia already possesses some experience in the development of the ERP. The fourth cycle of development of the ERP for the period 2018-2020 is under way.

In broader terms, the economic governance involves the definition and prioritisation of structural reforms with a view to eliminating obstacles to economic growth and development, as well as to boosting the competitiveness of the national economy. In line with the guidelines of the European Commission, the structural reforms within the Chapter 4 of the ERP 2018-2020 are organised under nine key areas: public finance management; reform of the market of energy supply and transport; sectoral development; business environment and the fight against the shadow economy; research, development and innovations, and the digital economy; trade reforms; education and skills; employment and the labour market; social inclusion, poverty reduction and equal opportunities.

The ERP is a rolling programme so each new cycle of its development should to some extent ensure the continuity in the area of priorities. The selected priority structural reforms are aligned with the priorities defined in national documents, national and regional strategies, key documents in the process of EU accession of the Republic of Serbia, and recommendations of the Economic and Financial Affairs Council of the EU.

With a view to ensuring the widest possible consensus in the selection of priority structural reforms, intensive inter-departmental consultations have been carried out through ERP coordinators in line ministries on the preparation of the Preliminary list of priority structural reforms for the document ERP 2018-2020.

The Preliminary list of priority structural reforms which includes 18 structural reforms as a subject of this public debate will be publicly available from 9 to 24 November 2017. The draft of the ERP 2018-2020 document will be made publicly available before its official adoption by the Government of the Republic of Serbia, after which it will be forwarded to the EC by the end of January 2018.

The ERP will be discussed with representatives of the EU, to be more precise with ministries of finance and economy, representatives of central banks of EU member states and responsible European institutions around mid-May 2018, as part of the economic dialogue, at the meeting of the Economic and Financial Affairs Council of the EU (ECOFIN) during which new recommendations of the EU Council for participants in the process (Western Balkans and Turkey) will be adopted.

All the interested can send their comments and suggestions to the Preliminary list of priority structural reforms to the electronic address erp@mfin.gov.rs by 24 November 2017.

The ERP 2017-2019 as well as Recommendations of the ECOFIN Council of May 2017 can be found at the following websites:

ERP 2017-2019

Recommendations of the ECOFIN Council