• Sunday, 07 July 2024

Finance Ministry starts implementing recommendations from economic dialogue with EU

Finance Ministry starts implementing recommendations from economic dialogue with EU
Skopje, 21 July 2021 (MIA) – The Ministry of Finance has launched activities over implementation of the joint conclusions from the Economic and Financial Dialogue between the EU and the Western Balkans and Turkey, based on the Economic Reform Programs 2021-2023. The conclusions, adopted on July 12, focus on continuous response including fiscal, economic and social policies to facilitate the consequences from the pandemic and to stimulate recovery. Finance Minister Fatmir Besimi held on Wednesday a meeting with competent ministries, agencies and funds taking part in the process, and discussed activities set to be undertaken in the upcoming period with the aim of implementing the document’s key priorities. “The European Commission’s evaluation of the Economic Reform Programs 2021-2023 showed that North Macedonia recorded a high score of 61.1 percent of implemented joint conclusions adopted in May 2020, compared to the Western Balkan countries and Turkey,” the Ministry of Finance said in a press release. The conclusions, it added, contain adopted recommendations to help countries aspiring to join the EU enhance economic and social development. “The six conclusions focus on continuous response including fiscal, economic and social policies to facilitate the consequences from the pandemic and to stimulate recovery at medium term. Moreover, North Macedonia is invited to provide well-targeted and temporary pandemic-related fiscal support to vulnerable households and businesses, followed by gradual fiscal consolidation. In regard to structural reforms, the country should focus on boosting education and improve unemployed people’s access to active labor market policies,” the press release read. The Ministry also underlined that the document is issued annually and aims to prepare countries for participation in the economic and fiscal surveillance of EU members, as well as to encourage the implementation of key reform processes, set to intensify dialogue with the EU. “This process launches preparations for the Economic Reform Program 2022-2024,” read the release.