STRATEGIC PRIORITIES OF THE ECONOMIC POLICY OF THE POST-WAR COUNTRIES OF THE BALKAN REGION

Section "Economics": Economic and Legal Problems of Sustainable Development

Abstract

The article highlights the peculiarities of the post-war reconstruction of the countries of the Balkan region, on the territory of which military operations took place. The analysis of losses and destructive consequences for the economy of Bosnia and Herzegovina, Croatia and Serbia, as well as trends of structural transformations in terms of sectoral division, was carried out. Based on the assessment of the differences in the structure of the economy of the developed countries of the European Union (EU) and the countries of the Western Balkans, conclusions are made regarding the possibilities of bringing the structure of the economy closer to European standards in the post-war and modern periods. The system of measures implemented by post-war countries in the field of attracting financial resources of international aid is characterized, and the analysis of the features of the use of sources of international financial support, the distribution of donor funds and grant support funds in the reconstruction of the economy of the Balkan countries is carried out. Based on the analysis of the economic development trends of the Western Balkan countries in 2016-2021, the priority areas of reforms that the countries under study need are determined. Attention is focused on the need to solve the problem of reducing the differences in the rates of economic growth of the Balkan countries, expanding economic integration within the macro-region and ensuring convergence with the EU member states. After analyzing the experience of the post-war reconstruction of the countries of the Balkan region, a number of institutional changes should be noted, which were aimed at the implementation of measures to bring them closer to the EU and increase the possibilities of attracting financial resources of international aid through program and grant support tools. A detailed analysis of diversified sources of international financial support was carried out, both in terms of the countries that participated in military operations, and in the Balkan region in general. Summing up, the analysis of the experience of the post-war recovery of the economy of a number of Balkan countries shows that its success is the result of a purposeful policy of structural reforms and consistent regulatory measures of the state to achieve the defined goals and priorities of economic recovery. It is noted that in the conditions of the war and after its end, Ukraine should take into account the experience of restoring post-war economies in order to speed up this process and avoid mistakes.

Keywords

economic policy, strategic priorities, macro region, post-war countries, structure of the economy, management quality, integration, convergence

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Published
2023-12-12