GROWTH AND THE FUTURE OF SOUTHEAST EUROPE

After a decade of remarkable growth rates, the region of Southeast Europe was severely affected by the euro area fiscal and economic crises. The decreased international interest in this region does not depend entirely on the lack of global finances, rather on the structural problems of these small economies. The answer to this vicious cycle of economic recession, unemployment, and poverty lies in a new growth model based on regional economic integration, to enhance sustainable, inclusive, and smart growth. With a strong political will of all parties, the next 10 years can bring about a free regional economy, an interoperable new economic reality that would project collective financial stability, attract "qualitative" foreign direct investment, raise competitiveness and support innovative industries for long-term growth and development. Good governance, economic rule of law, and structural reforms are imperative for achieving these challenging objectives.